Zions Bancorp. (ZION) said late Wednesday that it unloaded risks from a $1.16 billion portfolio of collateralized debt obligations to Germany's Deutsche Bank AG (DB).
Shares of Zions climbed 2.5% to $21.78 in evening trading after the announcement.
Collateralized debt obligations, or CDOs, are complex vehicles that often contain asset-backed securities such as mortgage-backed securities.
No comments:
Post a Comment
Comment on this article