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Derivatives Product Company (DPC)
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A special purpose credit-enhanced financial corporation designed to serve as a counterparty for swaps and other credit sensitive derivative instruments. Usually, a subsidiary of a financial intermediary, a DPC carries a higher credit rating than its parent corporation and is insulated in various ways from the parent's liabilities. Also called Credit Enhanced Vehicle (CEV), Special Purpose Vehicle (SPV). See Bankruptcy Remote Entity, Enhanced Derivatives Product Company (EDPC).
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