Banking

But overall availability still remained near a 10-year low in March, with government-backed products falling for the third time in four months, the Mortgage Bankers Association found.

Small and regional banks have been rocked by deposit outflows following the demise of Silicon Valley Bank, raising concerns that will crimp their ability to provide finance to borrowers.

Lenders are bracing for more companies to fall behind on their loan payments. That could create more opportunities for banks to dispose of these nonperforming credits through an Article 9 sale.

Some concerns linger over the sector after Silicon Valley Bank's collapse last month. The most pressing worry now, analysts say, is not whether banks will survive but how much money they'll make in the coming months.

Initial hard credit enhancement for the class A notes is lower, at 37.30%, because of lower subordination in the deal.

Some new loan sales, as well as transactions designed to extend the due dates on existing debt, have also been pushed to the sidelines.

Treasury Secretary Janet Yellen repeated her comment from a day earlier that the government's recent actions were "taken to ensure that Americans' deposits are safe." She sought to clarify it with a new line: "Certainly, we would be prepared to take additional actions if warranted."

For this securitization the 85.7% portion of standard amortizing loans does include a sliver of (SAC) loans, or 4.7%, that are past their promotional periods and 14.3%, that are within.

Bank underwriters across the U.S. and Europe are pulling sales and pausing future ones amid tepid demand. Barclays Plc recently shelved a pair of loans for Ineos Enterprises and Russell Investments, while JPMorgan Chase & Co. yanked a deal for Agiliti Health.

The Federal Deposit Insurance Corp. says it has extended the deadline for bids on Silicon Valley Bank, will break the bank into two parts for sale and will allow nonbanks to bid on asset portfolios.