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Here's my suggestion: Require that the rating of any securitized pool of obligations not exceed the rating of the least creditworthy party, unless the pool is subject to a letter of credit, insurance or other form of credit enhancement.
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Siblings also represent a pool of potential obligations to provide financial assistance, care, and support in times of need.
That is, the debtor is little more than a pool of other collateralized debt obligations that has issued myriad layers of debt based on the returns of that pool.
The idea of pooling obligations was raised at the start of Europe's rolling debt crisis in 2009 and gained support among some economists.
For that matter, if you pooled the obligations of every employer in the country, no company would go bankrupt just because it happened to employ older people, or it happened to have been around for a while, or it happened to have made the transformation from open-hearth furnaces and ingot-making to basic oxygen furnaces and continuous casting.
Banks could pledge mortgages or other outstanding loan obligations, expanding the potential pool of collateral by about €200 billion, according to E.C.B. estimates.
This article is a survey of the covered bond market with a focus on recent developments in the U.S. Covered bonds are debt obligations secured by a pool of assets, usually consisting of residential mortgages or other public debt.
Of obligations, by far the solemnest.
This definition employs the notion of obligations.
Liberty-rights are absences of obligations.
According to most defenders of special obligations, such obligations are prima facie obligations, i.e., they are obligations with a certain weight that can be counterbalanced by the weight of other special obligations or of other types of obligations.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com