Bank Defaults Drive Up Trust-Preferred Security CDO Rate

Three defaulting banks drove up the default rate on U.S. bank trust-preferred security collateralized-debt obligations in April from 16.8% to 16.9%, according to Fitch Ratings.

  • 22 May 2012

Three defaulting banks drove up the default rate on U.S. bank trust-preferred security collateralized-debt obligations in April from 16.8% to 16.9%, according to Fitch Ratings. Fitch also reported that the deferral rate for the CDOs dropped from 15.9% to 15.5%.

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