情報アイランド

「情報を制する者は世界を制す」をモットーに様々な情報を提供することを目指すブログです。現在はプログラミング関連情報が多めですが、投資関連情報も取り扱っていきたいです。

ディクテーションの実例233 債務担保証券について

債務担保証券について説明している下の動画でディクテーションをしてみました。

A Primer On Collateralized Debt Obligation (CDOs)
http://www.investopedia.com/video/play/primer-collateralized-debt-obligation-cdos/

下がディクテーションしてみた結果です。私はリスニング力が低いので聞き取れなかった部分もありました。そのような部分は?で表しています。また、リスニング力が低いため聞き間違えている部分も多いかと思います。

もし聞き間違えている部分を見付けたら、コメントで教えてくださるととてもありがたいです。


a collateralized debt obligation or cdo is a structured financial product backed by a pool of loans. when a retail or commercial bank approves loans such as mortgages, auto loans or credit cards to individuals or businesses, these loans are then sold to an investment bank. the investment bank repackages these loans to form an investment product called the cdo which is then sold to investors. the principal and interest payments made on the loans are redirected to the investors in the pool. the promised repayment of the loans in the pool is the collateral that gives the cdo's value, hence the term collateralized. if the underlying loans go bad, the bank transfers much of the risk to the investor, which will typically be a large pension fund or hedge fund. as a result, banks slice the cdo into various risk levels or tranche. senior tranche are the safest, because they have the first claim on assets if some of the underlying loans default. junior tranche are riskier and therefore offer higher interest rates to attract investors. during the 1990's and early 2000's, most cdos were backed by ? loans which limited the risk of default and gave the instrument a reputation for stability. but, around 2003, the housing boom led a number of banks to use subprime mortgages as their main source of collateral. with the popularity of cdo skyrocketing, home lenders receive a steady stream of cash and as a result often extended credit to high risk borrowers. when the real estate market stalled and mortgage default started to rise, cdo issuers and their investors suffer the enormous losses. while cdos offer the possibility for attractive fixed returns, the fallout from the financial crisis has led to greater scrutiny regarding the loans that serve as their collateral.


難しめの単語や熟語の意味です。

pizyumi
プログラミング歴19年のベテランプログラマー。業務システム全般何でも作れます。現在はWeb系の技術を勉強中。
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