A working group at the National Association of Insurance Commissioners proposed harsh treatment of multi-collateral structured credit investments at insurance companies.

Commercial banks reported a small decline in structured finance assets backed by commercial and industrial loans, mostly from declining held-to-maturity accounts. Experts say bank CLO holdings in loan format continue to grow. (Includes data table.)

Off and on since 2013, Egan-Jones Ratings Company has sought certification from the SEC for ratings of ABS. Last week, the SEC denied the latest application from the rating service.