Definition of Bistro (Broad Index Secured Trust Offering)

Launched in 1997, Bistro was J. P. Morgan's proprietary name for producing Collateralised Debt Obligations from credit derivatives.  Bistro was the precursor for the synthetic CDO structure that prevailed later. [1]

To read about the genesis of Bistro in Gillian Tett's book "Fool's Gold", go to:

Genesis of the debt disaster
How panic gripped the world’s biggest banks


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