TruPS CDOs At Risk As Banks Defer Payments

An increase in the number of banks deferring payment on trust preferreds is prompting new concerns on collateralized debt obligations backed by TruPS.

  • 24 Jul 2008

--Leela Parker

An increase in the number of banks deferring payment on trust preferreds is prompting new concerns on collateralized debt obligations backed by TruPS. Trust preferreds are cumulative preferred stock that combines the benefits of both debt and equity. Deferred payments are an early warning sign that banks ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 3,691 11 20.70
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.78

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1 Citi 40,734.72 129 10.87%
2 JPMorgan 33,785.84 96 9.02%
3 Wells Fargo Securities 31,464.27 90 8.40%
4 Bank of America Merrill Lynch 29,270.38 93 7.81%
5 Credit Suisse 23,189.41 72 6.19%