{"id":179750,"date":"2021-06-04T01:06:00","date_gmt":"2021-06-04T05:06:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/glossary-terms\/interest-only-io-securities\/"},"modified":"2023-01-22T13:33:12","modified_gmt":"2023-01-22T18:33:12","slug":"interest-only-io-securities","status":"publish","type":"glossary-terms","link":"https:\/\/www.interactivebrokers.com\/campus\/glossary-terms\/interest-only-io-securities\/","title":{"rendered":"Interest Only (IO) Securities"},"content":{"rendered":"

Collateralized Mortgage Obligation bonds that receive some or all of the interest portion of the underlying collateral and little or no principal. As the principal amount is paid on the underlying mortgages, the cash flow declines on the IO since the interest payment would be based on the lower principal amount. Once the principal amount declines to zero, no further payments are made on the IO.<\/p>\n","protected":false},"excerpt":{"rendered":"

Collateralized Mortgage Obligation bonds that receive some or all of the interest portion of the underlying collateral and little or no principal. As the principal amount is paid on the underlying mortgages, the cash flow declines on the IO since the interest payment would be based on the lower principal amount. 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