If there is $120 of collateral guaranteeing a $100 bond, the bond is safer, no doubt. How much safer, however, depends upon the returns on the pool of bonds that compose the CDO.
其中合理的原则是担保品的超额供给。 如果用价值120美元的抵押品担保面值100美元的债券，则该债券毫无疑问更具安全性。 但实际的安全程度还取决于构成债务抵押债券的债券组合收益。