NAF employment is considered federal employment. It is, however, different from federal civil service employment because the monies used to pay the salaries of NAF employees come from a different source. Civil service positions are paid for by money appropriated by Congress.
The genesis of the CBO (collateralized bond obligation) and CLO (collateralized. loan obligation) market occurred in the late 1980s with the repackaging of high-yield, speculative-grade bonds or loans into highly rated paper.
Standard & PoorâsStructured Finance Global CBO/CLO Criteria 3 CBOs and CLOs are securities backed or colateralized by a diversified pool of corporate bonds or loans, respectively. CDOs are securities backed or collateralized by a diversified pool of both corporate bonds and loans. A CBOis backed by a portfolio of secured or