With record levels of new CLO coming to market over the past six months, commercial banks have stayed on the sidelines, allowing their CLO portfolios to slowly decline. (Includes data table.)

A whopping $91.6 billion of existing CLO deals were reset and refinanced during the third quarter, lifting year-to-date volume to $184.8 billion. While issuance of new CLO deals is also up strongly from 2023, third-quarter volume was down.

Although bank holding companies keep most of their CLO investments in held-to-maturity accounts, the value of CLO classified as available-for-sale was up slightly in the second quarter. (Includes data table.)

Ginnie issuers say cyber reporting standards are too onerous; SEC fines CLO manager; SEC fines rating services for inadequate recordkeeping; T-Mobile ABS sputters; DoubleLine reduces management fee.

Reset and refinance transactions accounted for half of the CLO issued in the second quarter, with volume more than doubling compared with the first three months of 2024. (Includes data tables.)

Fed researchers quantify the effect of BTFP’s use of par valuations for collateral during the 2023 banking crisis.

JPMorgan Chase held the largest CLO portfolio in the banking industry at the end of March, but its investment was down from the previous period. (Includes data table.)

Computershare recently started offering trustee services for MBS. Western Alliance was named as a trustee for a CLO deal.

Production of new collateralized loan obligations as well as reset transactions in the first quarter of 2024 hit the highest level since the market reached all-time highs in 2021.

KBRA found that new multifamily construction could increase risks for MBS concentrated in certain cities.