Back to basics


A collateralised debt obligation (CDO) is the catch-all term for tranched risk of cash or synthetic underlying assets. In general terms, a CDO tranche represents a leveraged or de-leveraged position in a portfolio of credit risk. There are a variety of different structures in the market, but all CDOs have common basic features. They will have an underlying portfolio of collateral assets, which are either owned by the CDO or referenced via one or more credit default swaps (CDS), and a set of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here