synthetic C.D.O.s是什么在VOA上看到,不懂哦.

synthetic C.D.O.s是什么在VOA上看到,不懂哦.
synthetic C.D.O.s是什么
在VOA上看到,不懂哦.

synthetic C.D.O.s是什么在VOA上看到,不懂哦.
synthetic adj.合成的,人造的；综合的
CDO债务抵押债券s是复数
Collateralized Debt Obligation

A synthetic CDO is a complex financial security used to speculate or manage the risk that an obligation will not be paid (i.e., credit risk). It is a derivative, meaning its value is derived from even...

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A synthetic CDO is a complex financial security used to speculate or manage the risk that an obligation will not be paid (i.e., credit risk). It is a derivative, meaning its value is derived from events related to a defined set of reference securities that may or may not be owned by the parties involved. A synthetic CDO is typically negotiated between two or more counterparties that have different viewpoints about what will ultimately happen with respect to the underlying reference securities. Various financial intermediaries, such as investment banks and hedge funds, may be involved in selecting the reference securities to be wagered upon and finding the counterparties. Complex legal entities such as structured investment vehicles may be created to facilitate and administer the deal. One counterparty typically pays a premium to another counterparty in exchange for a large payment if certain events related to the reference securities occur, similar to an insurance arrangement. It represents a leveraged bet, meaning it may result in a potentially large payout without requiring that a large amount of funds (collateral) be set aside. These securities are not typically traded on stock exchanges.
In technical terms, the synthetic CDO is a form of collateralized debt obligation (CDO) in which the underlying credit exposures are taken on using a credit default swap rather than by having a vehicle buy assets such as bonds. Synthetic CDOs can either be single tranche CDOs or fully distributed CDOs. Synthetic CDOs are also commonly divided into balance sheet and arbitrage CDOs, although it is often impossible to distinguish in practice between the two types. They generate income selling insurance against bond defaults in the form of credit default swaps, typically on a pool of 100 or more companies. Sellers of credit default swaps receive regular payments from the buyers, which are usually banks or hedge funds.

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是“综合的债务担保凭证”
C.D.O.= collateralised-debt obligations 债务担保凭证