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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.

It said just over $1.2 billion of dollar notes had so far been accepted for purchase with six days still remaining for investors to sell back their holdings.

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.

Wednesday afternoon was full of drama as traders first took hope from the central bank's statement but then slumped following stern comments by Chair Jerome Powell.

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.

Credit Suisse Group AG's long-term rating was downgraded by S&P Global Ratings to just one level above junk status, underscoring the bank's challenges after it laid out a radical restructuring plan last week.