Derivative mechanics: the CMO

Joseph Haubrich

Economic Commentary, 1995, issue Sep

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 (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedcec:y:1995:i:sep1

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