cdo

cdo

美 　英

• 网络债务抵押债券(collateralized debt obligation)；担保债务凭证；债务抵押证券

例句

This feature led to massive losses and would have done so, according to one CDO investor, even if the housing market had not collapsed.

这一特点导致了巨额亏损，而且据一位CDO投资者表示，即便房地产市场没有崩盘，也会如此。

The trouble was that Paulson needed buyers of the CDO, in order that it could be a seller.

问题在于，保尔森需要CDO的买家，这样它才能成为卖家。

Assets were bundled into a pool, securitised, stuffed into a CDO, bits of that plugged into the next CDO and so on and on.

资产被组合成池，进行证券化操作，进而被塞进CDO，其中一些还会被投入下一个CDO，并如此往复再往复。

He told me with a straight face that these CDOs were the only way to get rid of the riskiest tranches of Subprime debt.

他诚实地告诉我，这些夹层CDO是从可转换次级债中剔除风险最高的债券的唯一出路。

Defaults haven't been a major problem, but the market values of these CDOs fell sharply over the past year or so.

违约还不是很严重的问题，但这类CDO的市值在过去一年左右的时间里急剧缩水。

For much of the mortgage boom, Merrill was able to sell the bulk of the CDOs it underwrote to investors all over the world.

在抵押贷款业务繁荣兴旺的那段日子，美林能够将它承销的大部分CDO顺利出售给世界各地的投资者。

Vertical was not the only example of a CDO constructed by one bank to the apparent benefit of another.

除了Vertical以外，由一家银行创建明显有利于另一家银行的CDO案例还有很多。

Modern finance is supposed to be all about measuring risks, yet corporate and mortgage-backed CDOs were a leap in the dark.

归根结底，现代金融应关乎风险测量。然而，企业与按揭支持CDO却是一次鲁莽的冒险行动。

Shockingly, two-thirds of that stemmed from supposedly triple-A CDOs, which by then were deemed to be worth only half of their face value.

令人震惊的是，其中三分之二是由所谓的“AAA”级CDO造成的——当时，人们认定这种工具的估值仅为其票面价值的一半。

Goldman has even referred to the investors who bought its CDOs as "among the most sophisticated mortgage investors in the world" .

高盛甚至将购买其发行的CDO的投资者称为“世界上最成熟的抵押贷款投资者”。

(On occasion, each of a pair of CDOs would buy a tranche of the other, creating a "loop" that slowed analysis).

有时，一对CDO还会相互购买对方的部分，从而导致了“循环”，延缓了分析过程。

Various CDO managers would be asked by banks if they would go along with this sort of thing.

银行会询问各家CDO经理，看他们愿不愿意配合此类操作。

You could still run Intex, first for each of the securities and then for the CDO, but it could be a slow process.

你还是可以运行Intex——先计算那些标的证券，然后计算CDO，但这一过程可能相当缓慢。

The CDO fiasco was an egregious and relatively rare case of aninstrument getting way ahead of the ability to map it mathematically.

作为工具通过数学方法进行的预测中，CDO的惨败是异乎寻常的，也会是相对少见的。

ProPublica notes that the CDO deal prospectuses did not disclose Magnetar's equity role, or detail its other positions.

ProPublica指出，CDO交易说明书没有披露迈格尼塔持有那些组块，也没有详细列明它的其它头寸。

CDOs were one of the main vehicles through which risky US mortgages were repackaged and sold to investors around the world .

CDO是美国风险抵押贷款重新打包、然后出售给世界各地投资者的主要工具之一。

It definitely embraced them with Abacus, keeping IKB in the dark both about Paulson and its own view of mortgage CDOs.

它显然用Abacus来迎接挑战，既没有让IKB知晓保尔森在该交易中的角色，也没让其知道自己对抵押贷款CDO产品的看法。

So far, Morgan Stanley estimates that about $123bn of these defaulted CDOs have been liquidated.

摩根士丹利估计，迄今已有约1230亿美元这类违约CDO进行了清算。

But faith in the financial alchemy of this single currency has spectacularly crumbled, just as faith in those CDOs fell apart.

但人们对这一单一货币金融魔力的信仰已经惊人地崩溃了，正如对CDO的信仰也已土崩瓦解一样。

Why was a firm like Mr. Paulson's allowed to choose the securities in the CDO it was planning to bet against?

鲍尔森的公司正打算做空这批CDO，高盛为什么让它来挑选基础证券？

The firm also said the SEC completed a review of other collateralized debt obligations created by Goldman.

高盛还说，SEC已经完成了对高盛所构建其他债权抵押证券（CDO）的评估。

On paper, the eurozone does not look exactly like a CDO, since eurozone governments have never tried to "bundle" their debt.

理论上，欧元区看上去与CDO并不十分相像，因为欧元区政府从未尝试过“捆绑”他们的债务。

They would never have taken such a punt on high- yield securities or equity tranches of collateralized debt obligations (CDOs ) .

他们可不会在高收益证券或债务抵押债券（CDO）的股本部分上进行这样的押注。

Thus, it could never compensate UBS fully for any meaningful loss in value of the $1. 3bn UBS was trying to insure, it claims.

因此，它宣称，自己永远不可能全部赔偿瑞银试图提供保险的13亿美元CDO的实际减值。

It was an edge the investment banks deployed against "long" investors on the other side of CDO trades.

投行利用这一优势，与CDO交易另一方的“做多”投资者对赌。

They also lent buyers much of the money to bid for CDOs, certain that the securities were a sound investment.

他们同样借了大笔金钱给其他投资者去购买CDO。无疑，这些证券曾是良好的投资。

For instance, a BBB tranche in a CDO might pay out in full if the defaults remained below 6%, and not at all once they went above 6. 5%.

例如，在一个CDO中，当其违约率低于6%时，拥有BBB评级的资产部分便应可以全部付清。而一旦违约率超过6.5%，该层级的投资者就一分钱都拿不到。

These were precursors to CDOs, the pools of mortgage-backed securities that were to wreak havoc on the global financial system years later .

这些人是经营担保债务凭证（CDO）的先行者，这种产品即一批抵押贷款支持证券的集合，在此后几年对全球金融体系造成了大破坏。

Now, the estimated market value of the CDOs is at least $45bn, according to several people with direct knowledge of the portfolio.

据了解该资产组合第一手资料的几位人士称，如今，这些CDO的市场价值估计至少有450亿美元。

Golman told the investors, including some European banks, that ACA Management, an independent third party, picked what went into CDO.

高盛告诉包括一些欧洲银行在内的投资人，这些组成CDO的合成证券是由独立第三方ACA管理公司所挑选的。

At the time of the Fed intervention, the value of the CDOs insured by AIG was falling dramatically and AIG was facing a credit downgrade.

美联储当初进行干预时，这些由AIG承保的CDO正在急剧贬值，AIG也正面临着信用降级。

The cash flowing from mortgage payments into a single CDO had to filter up through several layers.

现金经由按揭偿付进入单一CDO需要经过多层过滤。

One of the pioneers of structured credit in the 1990s, JPMorgan is a leader in parts of the CDO business.

作为上世纪90年代结构信贷的先驱之一，摩根大通是CDO部分业务领域的领导者。

The losses the banks began to take against their holdings of CDOs were staggering.

银行开始承受持有CDO带来的损失，数目令人难以置信。

It could promote the interests of favoured investors, use CDOs to hedge its own loan book or even take a trading position.

它可以照顾“最惠投资者”的利益、利用CDO对冲其贷款账簿，甚至占据交易头寸。

Just as with Abacus, Morgan Stanley's role was not disclosed to investors in the CDO.

与Abacus一样，摩根士丹利在Jackson中的角色并没有向投资者披露。

After all, few of us ever deal with collateralized debt obligations, exclusive hedge funds or complex billion-dollar derivative products.

毕竟我们很少有人会去参与投资债权抵押证券（CDO）、封闭式对冲基金或复杂的大额衍生品。

Analysts believe AIG originally valued these contracts by looking to prices supplied for a pool of CDOs, among other factors.

分析师们相信，AIG原来是参考一组CDO的价格等因素给这些保险产品估价的。

' Other CDO investors admit they didn't read or overlooked certain risk disclosures spelled out in the prospectuses.

其他CDO投资者承认，他们没有阅读或忽略了说明书中的某些风险信息。

For the sake of propriety, they employed a third-party CDO manager or selection agent to select and watch over the pool of mortgage bonds.

为了显得规范得体，它们聘请第三方CDO管理机构或筛选代理机构来筛选和照看抵押债券池。