The deal includes a step-up rate to the coupon for the A1A, A1B, A2 and A3 notes beginning in July 2029, and the increased rate will be equal to the original class coupon rate, plus 1%.

The CEOs of Bank of New York Mellon and Northern Trust have had at least one discussion about a potential merger, according to a Wall Street Journal article. On Monday, a spokesperson for Northern Trust said the bank "is fully committed to remaining independent."

Deputy Treasury Secretary Michael Faulkender says Basel capital rules need to fit the U.S. economy and avoid discouraging banks from lending.

The B, C and D tranches maintain minimum subordination percentages, 12.5%, 8.1% and 4.3%, respectively, allowing them to provide credit support for the class A notes.

Federal Reserve Chair Jerome Powell said the changes could touch the central bank's quarterly economic forecasts. He also discussed downsizing at the Fed and his tenure on the board of governors.

With a shifting pool mix, concentration limits and other restrictions applied to the new assets, Fitch gives the overall deal a 15.2% base case default expectation.

The Trump administration is seeking to fire roughly 90% of the Consumer Financial Protection Bureau's staff and is fighting for that right in court. But if the administration prevails, can other consumer protection authorities from other federal regulators pick up the slack?

OWN Equipment Fund has nine different equipment types that make up 96.39% of the pool's Net Orderly Liquidation Value (NOLV).

None of the economists surveyed by Wolters Kluwer predict the Fed will cut rates at this week's meeting, few expect one in July and 41% said after September.

In 2021, banks pledged to wind down their support for oil and gas. Last year they made a $162 billion U-turn, according to a new report from a coalition of advocacy groups.

There is also a significant portion of mortgages secured by investment properties, 44%, and overall 47.5% of the collateral pool is composed of non-qualified mortgages.

The notes will be repaid sequentially, and with subordination, a reserve account that can be replenished and overcollateralization, the notes receive greater credit enhancement over time.