A variable rate debt obligation (VRDO) is a tax-exempt short-term investment instrument based on long-term municipal bonds.[1] The total value of outstanding VRDOs was estimated at $500 billion in November 2008.[2]
See also
editReferences
edit- ^ Criscuolo, Anthony C.; Faloon, Michael. "Variable Rate Demand Obligations" (PDF). Standish Mellon. Archived from the original (PDF) on 21 April 2007.
- ^ Doherty, Jacqueline (26 November 2008). "A Mess in the Muni Market". SmartMoney. Archived from the original on 23 December 2008.
 | This economics-related article is a stub. You can help Wikipedia by expanding it. |