Mortgage bond investors have little to fear from falling energy prices, according to Bank of America Merrill Lynch.

The overall amount of collateral that is located in regions heavily dependent on the oil and gas industry – Dallas, Denver, Houston and North Dakota - is limited, according to research the bank published Friday. In aggregate, it represents about 8% of the aggregate assets in conduit deals printed since the financial crisis. Deals completed in 2011 have the biggest overall exposure, at 9.4%, while the 2013 vintage is the least exposed, at 7.4%.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.