Analysts at Bank of America Global Research suggest that proposed changes to regulatory capital requirements could spur more bank CLO investment. (Includes one data table.)

JPMorgan Chase remained the largest bank CLO investor despite a modest decline in its portfolio during the fourth quarter of 2025. (Includes data table.)

In collateralized fund obligations, general partners typically purchase the fund assets of limited partners, allowing the GPs to add leverage and the LPs to diversify their holdings and gain liquidity.

Reset and refinance deals accounted for nearly 60% of last year’s bumper crop of CLOs that totaled more than $607 billion. (Includes two data tables.)

The complaint argues that equity investors used their market dominance to pressure CLO managers to keep credit spread adjustments artificially high for leveraged loans transitioning to SOFR.

2025 has been a banner year for CLO issuance, mostly from refinance and reset transactions, but bank investment in the sector declined in the third quarter. (Includes data table.)

CLO reset transaction volume more than doubled from the second quarter to the third to account for 62% of total CLO issuance. New CLO issuance was running about 11% ahead of the pace set in the first nine months of 2024.

Rocket is set to issue its second consumer loan ABS; Golub Capital issues rare long-duration CLO; large jumbo MBS from Chase; ratings performing as expected.

The $510 million deal received a AAA rating from Moody’s Ratings.

While bank call reports showed a small decline in CLO holdings, analysts estimate that CLOs held in loan format were up in the second quarter. (Includes data table.)