Jan 28 - According to latest index results from Fitch Ratings, combined
defaults and deferrals for U.S. bank TruPS CDOs has further decreased to 30.2%
at the end of the fourth quarter of 2012 (4Q'12).
Two deferring bank issuers totaling $28.5 million of collateral in three CDOs
defaulted on their TruPS CDOs in 4Q'12, fewer than the five banks that defaulted
Furthermore, five banks representing $69.7 million of collateral in 11 CDOs
began deferring interest on their TruPS in 4Q'12, comparable to the amount seen
in 3Q'12. Three were re-deferrals from banks that had previously cured.
Moreover, 14 banks representing $270.8 million of collateral in 28 CDOs resumed
interest payments and repaid cumulative deferred interest on their TruPS. The
number of cured banks in 4Q'12 was similar to that of 3Q'12, however, the
notional amount was considerably lower than the previous quarter's $492.7