Aside from equipment leases, the collateral will include interest certificates and equity interests in entities formed to own aircraft leases and related aircraft.

The $1.3 trillion decline was the largest quarterly drop in dollar volume and the biggest falloff on a percentage basis since 2009, according to Black Knight.

The acquisition, which was originally expected to close at the end of last year, ultimately took more than 18 months to receive regulatory approval. It is now expected to close on Dec. 1.

The Federal Reserve's semiannual financial stability report said the threat of continued high prices and the Fed's response to them are top threats for banks and other market participants.

The CLO is preparing to raise $494.5 million from the capital markets, with a reinvestment period of 2.9 years, and a a weighted average (WA) recovery assumption of 77.03%.

The company's volume fell behind its wholesale-focused chief competitor's in the third quarter but management foresees potential weakness in the broker channel.

Should Libor become unavailable most CLO loans are already written to fall back to the prime rate. Managers will have to monitor their CLOs' legacy Libor loans.

Executives from PNC, Regions and M&T are expressing confidence that their loan books can withstand a recession. "We don't see crisis-type things in front of us right now," said PNC Chief Financial Officer Robert Reilly.

The percentage of extended-term loans, 80.9%, is near the higher end in recent historical deals, but higher FICO scores are also a bigger portion of the pool.

The firms trimming payroll include lenders, a mortgage insurance giant, an iBuyer and an online notarization software provider.

The increases may simply reflect better detection and reporting, but banks continue to facilitate large ransom payments to sanctioned individuals.

Pagaya Structured Products had begun acquiring loans underwritten to tighter underwriting standards—especially among higher-risk borrower segments—in fall 2021.