[Benjamin]

3 Mar, 2020

US banks' CLO security holdings near $100B after 12% jump in 2019

By far, the standout was JPMorgan Chase & Co., whose holdings jumped 57% in 2019, to $29.8 billion, from just under $19 billion at year-end 2018. JPMorgan is now the largest U.S. bank holder of CLO debt in securities form, as it moved above traditional heavyweight Wells Fargo.

What is perhaps most striking about the results is the high degree of concentration of CLO debt inside the three banking entities, relative to the rest of the banking sector. At $80.2 billion, the three largest holders make up nearly 81% of all U.S. bank CLO holdings.

https://www.spglobal.com/marketintel...2-jump-in-2019