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The loans typically don't qualify for being bundled into bonds supported by Fannie Mae or Freddie Mac — government-backed companies that guarantee most US mortgages for investors.

The Charlotte, North Carolina-based bank saw profits and net interest income dip in the second quarter, but made up lost revenue through investment banking fees.

The longest portion of the offering, an 11-year security, may yield 1.35 percentage point above Treasuries. The deal comes after the bank reported record profit as investment bankers and equities traders smashed expectations.

The class A and class B notes benefit from credit enhancement levels of 12.50% and 8.75%, respectively, and the class A notes benefit from the subordination of class B certificates.

The investment banking giant said that it will "moderate" its pace of share repurchases as it continues to talk to the Federal Reserve, which recently increased its stress capital buffer from 5.5% to 6.4%.

Optimism tied to an ebb in inflation was on full display this week in US government debt, with yields across the curve slumping as the data was seen supporting the case for lower borrowing costs as soon as September.

Known at BLAST 2024-3, the deal will issue five classes of notes with subprime auto loans serving as collateral, even if the pool is upsized to $680 million.

Investment banking fees shot up at the nation's largest bank, thanks to rebounds in M&A and the equity capital markets segment. And despite higher credit costs in the company's card business, a top bank executive expressed confidence in the health of U.S. consumers.

The wireless infrastructure industry has positive fundamentals, with all major U.S. carriers making further network infrastructure investments to boost coverage and capacity to meet growth in wireless data traffic.

A federal appeals court ruled that the Equal Credit Opportunity Act prohibits not just outright discrimination but also the discouragement of prospective applicants for credit.