Most of the top bank ABS investors reported declines in their holdings during the second quarter. Radius Bank and Capital One bucked the trend by growing their portfolios. (Includes two data tables.)
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Federal Reserve Vice Chair Michael Barr plans to recommend retaining capital requirements for unrealized losses on MBS held in bank portfolios. This provision was in response to the 2023 banking crisis.
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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.)
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ABS backed by home equity investments are offering unlevered returns in the low double digits. The first rated HEI ABS was issued in October and industry players are anticipating exponential growth.
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Acra’s first-ever MBS is ready to hit the street. The company’s servicing platform, Citadel, will be the master servicer on the bond. More issuances are expected, but not until 2025.
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The restaurant chain was removed as manager of its 2017 whole-business securitization following a slew of reporting errors and rating downgrades.
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