Collateralized loan obligation (CLO)

Definition:

A security backed by a pool of commercial or personal loans , structured so that there are several classes of bondholders with varying maturities, called tranches. Similar in structure to Collateralized Mortgage Obligations.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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Particular place on the floor of an exchange where transactions in stocks listed on the exchange occur.

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