In November, it dropped charges against Edward Steffelin, a former GSC Capital Corporation executive, over a defaulted collateralized debt obligation issued by JPMorgan Chase.
JANET -- A bond, also known as a fixed-income security, is a debt obligation issued by a company, the U.S. government, a state or local municipality, or a government agency.
This general obligation issue has the Texas Permanent School Fund guarantee, which gives it an AAA rating.
Thursday after it announced a plan to exchange debt obligations issued by the bank for shares.
Auction-rate securities are debt obligations issued by municipalities, nonprofit entities and closed-end mutual funds.
But these money funds, with total assets of $658 billion, held $309 billion in debt obligations issued by European banks.
engaged in fraud when it gave high ratings to residential mortgage-backed securities and collateralized debt obligations issued before the financial crisis despite knowing that the housing market was deteriorating.
While a majority of the $330 billion auction-rate securities market consists of debt obligations issued by municipalities and nonprofit institutions, some $65 billion is in preferred shares issued by closed-end funds.
It also said that it planned to purchase short-term debt obligations issued by Fannie Mae, Freddie Mac and the Federal Home Loan Banks, which offers financing for mortgages, small businesses and farms.
It is unclear what portion of the collateralized debt obligations issued by the investment banks is still on their balance sheets because they could not sell them to other investors.
