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Real Estate Encyclopedia | Property Law Dictionary | Real Estate Terms | Meanings & Definitions |      Nov 20, 2017

More New Real Estate Terms

collateralized debt obligation (CDO)

A collection of loans that are packaged together to create a single financial instrument. The packaged or 'securitized' loans may be backed by corporate bonds, credit card loans, mortgage or other asset-backed loans, auto loans, future receivables, any other types of debt, or a combination of such debts. The term may be used to refer to any form of securitized debt obligation, including collateralized bond obligations (CBOs), collateralized fund obligations (CFOs), asset-backed securities (ABSs), various synthetic credit structures (credit derivatives, credit default swaps, collateralized debt obligations of asset-backed securities (CDO of ABS) securities, or CDOs of CDOs (CDO squared or CDOn), and many other complex packages of financial instruments. The term collateralized debt obligation is generic, although it is sometimes used to refer to any structured financial instrument that is not solely a collateralized mortgage obligation (CMO). See also securitisation(BrE)/securitization(AmE).



J.A. Tavakoli. Structured Finance & Collateralized Debt Obligations (Hoboken, NJ: 2008).

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