GDLP 2026-2 also has lower levels of initial credit enhancement compared to GDLP 2026-1, at 6.12% versus 5.74%; overcollateralization at 23.90% versus 24.92% and total gross excess spread of 5.55% versus 5.98%.

Federal Reserve Vice Chair for Supervision Michelle Bowman Friday highlighted a pair of new provisions to the final stress test framework that arose from public commentary submitted to the agency last year.

To keep cash flowing to the notes, the deal's senior notes have an interest reserve account covering three months' worth of class A note interest payments and fees.

Classes A-1FCF through A-1F will repay noteholders on a pro rata basis, while classes A2 through B3 will be repaid sequentially.

Last week's bond market turmoil continued leading up to the FOMC decision on Wednesday, pushing the 30-year fixed to near or over 7%, depending on the source.

GDLP 2026-2 also has lower levels of initial credit enhancement compared to GDLP 2026-1, at 6.12% versus 5.74%; overcollateralization at 23.90% versus 24.92% and total gross excess spread of 5.55% versus 5.98%.

Federal Reserve Vice Chair for Supervision Michelle Bowman Friday highlighted a pair of new provisions to the final stress test framework that arose from public commentary submitted to the agency last year.

To keep cash flowing to the notes, the deal's senior notes have an interest reserve account covering three months' worth of class A note interest payments and fees.

Classes A1 through A4 benefit from credit enhancement levels of 27.00%; while classes B, C and D benefit from credit enhancement levels of 22.75%, 18.25% and 13.50%, respectively.

ODAS IV 2026-1 will issue expandable term notes, so that at any time during the revolving period the issuer can periodically upsize the notes to a maximum of $626 million.

Anxieties over AI drew attention from Democrats and Republicans during Treasury Secretary Scott Bessent's testimony at the House Financial Services Committee.

The series 2026-1, A-1-V and 2026-1, A-2, issued from a master trust, have an anticipated repayment date of September 2031.