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The bank is a top auto lender, with a managed portfolio of $7.1 million through December 2023, and has a strong servicing track record.

The initial protection amount, Moody's says, is 12.5% of the total reference pool and equals the principal amount of the rated and unrated issued notes.

Powell's remarks represented a shift in his message after a third straight month in which a key measure of inflation exceeded forecasts.

Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.

The Federal Reserve chair's comments coincide with the spring meeting of the International Monetary Fund and the World Bank Group in Washington. They also come as groups like the Basel Committee on Banking Supervision are being scrutinized.

The Federal Home Loan Bank System stepped up advances by 37% or more to Silicon Valley, Signature and First Republic banks ahead of their failures, the GAO says in a post-mortem on last year's banking crisis. The findings add to the debate about whether the system should be a lender of last resort.

ADMT 2024-NQM2 will repay senior position investors on a pro-rata basis, while the mezzanine and subordinate notes will be repaid sequentially.

That the underlying contract holders prioritize using their smartphones and other mobile devices suggests that they are likely to prioritize payments related to those products.

Should the all-stock transaction close as planned later this year, Wintrust Financial in the Chicago area would gain about $2.7 billion of assets.

Traders are no longer fully pricing in a rate cut before November, while at the start of the year, cuts beginning in March were fully priced in.