| collateralized debt obligation | обеспеченное залогом обязательство (A collateralized debt obligation is any investment that is backed by a collection of several different assets. Often, this collection of backing assets will include bonds or bank loans that are not classified as mortgages. This arrangement does create a higher degree of risk for the investor, as there is the chance of default on the loans backing the investment. In return for assuming this higher risk, the investor stands a chance of realizing a higher rate of return on the investment. ... While a collateralized debt obligation is usually defined as an investment that is backed by a group of different debts, the term is sometimes employed in a broader manner. In some circles, a collateralized debt obligation is used as a general term to identify any type of collateralized obligation including loans, mortgages, or bonds.  wisegeek.com Alexander Demidov) |