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Toxic Waste

   Also found in: Dictionary/thesaurus, Medical, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.01 sec.
Toxic Waste
Informal for an illiquid or otherwise unattractive security. The term most often applies to a few collateralized mortgage obligations in which only the most risky mortgages are the underlying assets. Toxic waste is illiquid, but its existence makes other CMOs more liquid because it enables them to represent less risky mortgages.


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