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COLLATERISED MORTGAGE OBLIGATION (CMO)

Statistics Directorate    
Definition:
CMOs are debt obligations of an entity established by a financial institution or other sponsor.

Context:
They are collateralized by whole mortgage loans or by mortgage-backed pass-through securities guaranteed by the Government National Mortgage Association (GNMA), the Federal National Mortgage Association (FNMA), or the Federal Home Loan Mortgage Corporation (FHLMC). CMOs are sold in multimaturity classes called tranches.

Source Publication:
Coordinated Portfolio Investment Survey Guide, Second Edition, International Monetary Fund, 2002, Washington DC. Appendix VI: Definition and Description of Instruments.

Cross References:
Collateral

Hyperlink:
http://www.imf.org/external/pubs/ft/cpis/2002/pdf/cpis_index.pdf

Statistical Theme: Financial statistics

Created on Thursday, August 01, 2002

Last updated on Wednesday, April 10, 2013