X hits on this document

162 views

0 shares

0 downloads

0 comments

30 / 62

Collateralised Debt Obligations (CDOs), and variants

Description

STANDARD

A pool of bonds or loans is restructured into tranches: payments from the pool’s cash-flows are first made to the highest rated tranche, then to the second-highest rated tranche etc so that any default is borne by the lower tranches first.

SYNTHETIC

As above, except that a pool of CDSs is used instead of cash assets

Credit Derivative Instruments

Document info
Document views162
Page views160
Page last viewedFri Dec 09 08:25:56 UTC 2016
Pages62
Paragraphs1161
Words4308

Comments