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USAlliance Federal Credit Union in Rye, New York, has agreed to merge with Marriott Employees' Federal Credit Union in Bethesda, Maryland, to create a nearly $3 billion-asset organization.

The alchemists of Wall Street came up with a solution for investors who needed fatter yields: complex products that spun extra basis points out of markets.

The government-sponsored enterprise put more money aside as mortgage interest rates rise and home prices start to decline.

Based on the securitized utility tariff property, the security of the notes will depend on the number of customers in the utility's service area.

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 dollar resumed declines on Monday in New York amid a rebound in U.S. equities and other risk assets ahead of inflation data and the mid-terms elections.

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%.