Pool Backed Security Instrument

Definition

Pool Backed Security Instrument. A type of bond or note which derives its cashflow from some underlying pool of debt in which loans or mortgage advanced to borrowers are pooled together for the purposes of creating this type of security. Further notes: This is distinguished from CDO instruments which have an underlying pool of debt securities, as distinct from an underlying pool of loan products such as mortgages, credit cards or loans.

Disclaimer

This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.