COLLATERALIZED DEBT OBLIGATIONS (CDOs)
Collateralized Debt Obligations (CDOs) is advancement of securitization discussed in the paper of Strategic Financial Management. While in securitization the securities issued by SPV are backed by the loans and receivables the CDOs are backed by pool of bonds, asset backed securities, REITs, and other CDOs. Accordingly, it covers both Collateralized Bond Obligations (CBOs) and Collateralized Loan Obligations (CLOs).
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