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.