Fitch Ratings stated that as of July 20 defaults on U.S. bank Trust Preferred Security (TruPS) CDOs eclipsed the 14% mark on 11 new bank defaults.

The new defaults totaled $129.5 million, which affected 16 CDOs. Additionally, 22 banks began deferring interest payments on roughly $302.5 million of collateral in 23 TruPS CDOs.

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.