(Bloomberg) -- Sales of collateralized debt
obligations reached a record $251 billion worldwide in the first
quarter, led by bonds backed by credit derivatives, the Bank for
International Settlements said.
Banks and asset managers create CDOs by packaging bonds,
loans or derivatives into new securities. Sales of CDOs that pool
credit-default swaps, contracts used to bet on corporate
creditworthiness, rose 32 percent to $121 billion from the
previous quarter, the Basel, Switzerland-based bank said in its
quarterly review published on its Web site.
Read more at Bloomberg Bonds News
obligations reached a record $251 billion worldwide in the first
quarter, led by bonds backed by credit derivatives, the Bank for
International Settlements said.
Banks and asset managers create CDOs by packaging bonds,
loans or derivatives into new securities. Sales of CDOs that pool
credit-default swaps, contracts used to bet on corporate
creditworthiness, rose 32 percent to $121 billion from the
previous quarter, the Basel, Switzerland-based bank said in its
quarterly review published on its Web site.
Read more at Bloomberg Bonds News
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