Just two months ago, Comptroller Joseph Otting seemed to signal that the OCC might be open to letting national banks rent their charters to payday lenders. Now he is clarifying that it won’t happen.

Noria 2018-1 is a €1.6 billion securitization of unsecured personal loans, of which 30% are debt consolidation accounts.

Just 16% of the collateral for the $522 million Nelnet Student Loan Trust 2018-2 consist of “rehabbed” Federal Family Education Loan Program loans.

The London interbank offered rate will likely be replaced by a new reference rate that critics say is better suited for the derivatives market than it is for commercial lending.

Default risks in retail and media leveraged loans have also risen to the forefront of CLO manager concerns, which a few years ago were centered on oil and gas exposure.

The remarks by the comptroller of the currency came as his agency released a new report on emerging risks in the banking industry.

Despite concerns about credit quality, the only constraints on new issuance appear to be the supply of loan collateral and the capacity of warehouse facilities and rating agencies.

After a long and ultimately successful battle to exempt managers from risk retention rules, it may be hard to engage participants in the search for a suitable replacement for Libor.

Unlike several recent transactions by other solar panel financiers, which were backed by loans, the $347.5 million Vivint Solar Financing 5 is backed by leases and power purchase agreements.

Issuance is strong and defaults remain low; yet CLO market participants are concerned about heavy debt loads of the companies they invest in, as well as the lack of investor protections.

In the continued absence of legislation, Fannie Mae and Freddie Mac’s regulator announced work on a new capital framework.

It’s not just weaker underwriting and higher household debt levels that are driving past-due rates to their highest levels in seven years.