| 单词 | collateralized debt obligation |
| 释义 | collateralized debt obligation collateralized debt obligation(CDO) A structured finance instrument consisting of a bond or note backed by a pool of fixed-income assets. Rights to the cash flows from this pool, along with different levels of credit risk, are allocated to different classes (tranches) of note. Some specific types of CDO include collateralized bond obligations (CBOs), collateralized loan obligations (CLOs), and collateralized mortgage obligations (CMOs). A structured investment vehicle is a specialized form of CDO. The collapse in the value of CDOs backed by subprime mortgage loans was a major factor in the financial crisis of 2007–08; such instruments effectively became toxic assets with no market. |
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