Collateralized Debt Obligation was a niche product until 2003–04 but got very popular during the mid-2000s. At the time, banks also had an incentive to market CDOs. This led to complacency in credit standards, whereby non-creditworthy borrowers also got loans. Moreover, banks gave loans assu...
Wells Fargo’s exposure to CLO was about $30 billion. This may appear big in absolute numbers, but it was just 1.5% of the bank’s total assets. Also, the banks usually go for CLOs with AAA ratings. So far, such atranchehas not lost the money. ...
一个重要区别在于抵押保障方面，ABS和MBS有抵押物或个人信用保障。CDO属于无保障的债务抵押，有一份看似...