DISCLAIMER Definition

DISCLAIMER is a statement that the auditor is unable to express an opinion as to the presentation of financial statements in conformity with U.S. GAAP.

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CARD is Certificate for Amortizing Revolving Debts; an asset-backed security backed by credit card receivables.

FLOATING-RATE CMO is a collateralized mortgage obligation with a variable interest rate, usually reset quarterly, and set at a basis point spread over LIBOR. Also known as: Continuously Offered Long-Term Securities (COLTS), Floating Interest Rate Short-Term Securities (FIRSTS), Home Owner Mortgage Eurosecurities (HOMES), Option to Purchase or Sell Specific Mortgage-Backed Securities (OPOSSMS).

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