Journal Article
Derivative mechanics: the CMO
Abstract: A primer on how collateralized mortgage obligations (CMOs) work, looking at both their advantages and disadvantages and explaining how some seasoned market participants got into trouble by investing in these interest-rate-sensitive financial instruments.
Keywords: Mortgages; Derivative securities;
Authors
Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 1995
Issue: Sep
Order Number: 1