At systemic US banks, CLO holdings dip
Wells Fargo sees 15% sliced off the value of its portfolio
Portfolios of collateralised loan obligations (CLOs) held by the eight US global systemically important banks (G-Sibs) shrunk over first three months of the year, with Wells Fargo’s falling in value the most of the set quarter-on-quarter.
Regulatory filings published by the Federal Reserve show that the fair value of structured products with corporate loans as their underlying collateral, a category that covers CLOs, fell 15% to $24.6 billion at Wells Fargo over Q1. The bank’s latest 10-Q
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