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Collateralised Debt Obligations

In: Capital Market Instruments

Author

Listed:
  • Moorad Choudhry

    (Europe Arad Bank plc)

  • Didier Joannas

    (Thomson Reuters-Risk in North Asia)

  • Gino Landuyt

    (Europe Arad Bank plc)

  • Richard Pereira
  • Rod Pienaar

    (UBS AG prime services)

Abstract

Collateralised debt obligations (CDOs) are a form of securitised debt. The market in such bonds emerged in the United States in the late 1980s, first as a form of repackaged high-yield bonds. The market experienced sharp growth in the second half of the 1990s, due to a combination of investor demand for higher yields allied to credit protection, and the varying requirements of originators, such as balance sheet management and lower-cost funding.

Suggested Citation

  • Moorad Choudhry & Didier Joannas & Gino Landuyt & Richard Pereira & Rod Pienaar, 2010. "Collateralised Debt Obligations," Palgrave Macmillan Books, in: Capital Market Instruments, edition 0, chapter 14, pages 273-292, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-27938-4_14
    DOI: 10.1057/9780230279384_14
    as

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