Merrill Lynch Becomes Top Commercial Bank Investor in ABS Market, Call Report Data Reveal
March 28, 2003
Merrill Lynch’s two commercial bank charters held a combined $33.32 billion in asset-backed securities as of the end of 2002, making it the largest bank investor in the sector. The biggest category of Merrill Lynch’s ABS holdings were home-equity deals, followed by auto loan securitizations. Commercial banks include securities backed by home-equity lines of credit and second mortgages in their ABS