Variable rate debt obligation

Securities

Securities Banknote Bond Debenture Derivative Stock
Markets Stock market Commodity market Foreign exchange market Futures exchange Over-the-counter market (OTC) Spot market
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Equities (stocks) Stock Share Initial public offering (IPO) Short selling
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Structured finance Securitization Agency security Asset-backed security Mortgage-backed security Commercial mortgage-backed security Residential mortgage-backed security Tranche Collateralized debt obligation Collateralized fund obligation Collateralized mortgage obligation Credit-linked note Unsecured debt
Derivatives Forward Futures Option Swap Warrant Credit derivative Hybrid security
v t e

A variable rate debt obligation (VRDO) is a tax-exempt short-term investment instrument based on long-term municipal bonds.^[1] The total value of outstanding VRDOs was estimated at $500 billion in November 2008.^[2]

References[edit]

^ Criscuolo, Anthony C.; Faloon, Michael. "Variable Rate Demand Obligations" (PDF). Standish Mellon. Archived from the original (PDF) on 21 April 2007.
^ Doherty, Jacqueline (26 November 2008). "A Mess in the Muni Market". SmartMoney. Archived from the original on 23 December 2008.

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