cliff risk
n.— «CDOs-squared are often referred to as being subject to the so-called “cliff” risk, a phenomenon where the tranche gets wiped out quickly once losses reach it.» —“CDOs-Squared Demystified” by Nomura Securities International, Michiko Whetten, Mark Adelson Securitization.net Feb. 4, 2005. (source: Double-Tongued Dictionary)
Further reading
Books were rare treasures in the Middle Ages, painstakingly copied out by hand. So how to protect them from theft? Scribes sometimes added a curse to the first page of those books that was supposed to keep thieves away — and some were as vicious as...
In Japan, if you want to order a corndog, you ask for an Amerikan doggu (アメリカンドッグ). These types of coinages are called wasei-eigo, or “Japanese-made English,” and there are lots of them. Plus, there’s an atmospheric optical phenomenon that looks...