person or organization that legally assumes responsibility for another's debt or behavior

Assets or property pledged by a borrower to secure a loan; if the borrower defaults, the lender can take possession of these items.

collateralized debt obligation (CDO); a type of complex financial bond backed by a pool of loans and other assets

A guarantee provided to secure a loan or protect against losses caused by a breach of contract or unpaid debts.

investment security or financial instrument backed by a pool of assets, such as loans or receivables