Pooling, SPV, tranches and waterfall: the mechanics of structured credit explained for CFOs and treasurers, and how the technique shows up in Brazil as CRI, FIDC and debêntures.
An institutional network is the coordinated group of organizations an issuer can actually reach. In corporate debt, it is the set of institutional investors and bank treasuries that price, absorb and settle an operation — and the protocol that gets a mandate in front of them.