TO BE ANNOUNCED - TBA

  1. Forward mortgage-backed securities, which is passed through securities issued by Fannie Mae, Freddie Mac, and Ginnie Mae in the TBA market. The actual mortgage-backed security that will be delivered to fulfill a TBA trade is not assigned at the time of the trade. Securities are to be announced 48 hours before the decided trade settlement date.
  2. Abbreviation of to be announced used for a detail that is uncertain but will be given in the future.