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Moral obligation bond |
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Moral obligation bondA tax-exempt bond issued by a municipality or a state financial intermediary that is backed by the moral, but not legal, obligation of a state government to appropriate funds in case of default .Moral obligation bond Similar MatchesGovernment obligationsGovernment obligationsU.S. government-backed debt instruments, which are considered among the safest investments possible, including Treasury bonds, bills, and notes, and savings bonds. ObligationObligationA legal responsibility, such as to repay a debt. Collateralized mortgage obligation (CMO)Collateralized mortgage obligation (CMO)A security backed by a pool of pass-through rates , structured so that there are several classes of bondholders with varying maturities, called tranches. The principal payments from the underlying pool of pass-through securities are used to retire the bonds on a priority basis as specified in the prospectus. Related: mortgage pass-through security. Accumulated Benefit Obligation (ABO)Accumulated Benefit Obligation (ABO)An approximate measure of the liability of a pension plan in the event of a termination at the date the calculation is performed. Related: Projected benefit obligation. Obligation bondObligation bondA municipal bond with a face value greater than the value of the underlying property. The difference is designed to compensate the lender for costs exceeding the mortgage value. Further SuggestionsEurodollar obligationsFixed dollar obligations general obligation bond Collateralized Bond Obligation (CBO) Full faith and credit obligations |
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