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Who Owns U.S. CLO Securities? An Update by Tranche

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Abstract

Against the backdrop of the COVID-19 crisis, leveraged loans have deteriorated and concerns about CLOs, the main buyers of loans on the secondary market, have increased. These concerns have reduced the demand for new CLOs, making it harder for firms to borrow through leveraged loans on the primary market, as banks have found it more difficult to sell loans on the secondary market.

Suggested Citation

  • Emily Liu & Laurie DeMarco & Tim Schmidt-Eisenlohr, 2020. "Who Owns U.S. CLO Securities? An Update by Tranche," FEDS Notes 2020-06-25, Board of Governors of the Federal Reserve System (U.S.).
  • Handle: RePEc:fip:fedgfn:2020-06-25
    DOI: 10.17016/2380-7172.2592
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    File URL: https://www.federalreserve.gov//econres/notes/feds-notes/who-owns-us-clo-securities-an-update-by-tranche-20200625.htm
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    Cited by:

    1. Iñaki Aldasoro & Wenqian Huang & Esti Kemp, 2020. "Cross-border links between banks and non-bank financial institutions," BIS Quarterly Review, Bank for International Settlements, September.
    2. Nathan Foley-Fisher & Gary Gorton & Stéphane Verani, 2020. "Adverse Selection Dynamics in Privately-Produced Safe Debt Markets," Finance and Economics Discussion Series 2020-088, Board of Governors of the Federal Reserve System (U.S.).

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