Comment by: Mike Peterson. Posted 13 years ago [2010-11-15 10:52:25]

To clarify, CLO trustee reports do not record whether assets were bought in the secondary or the primary market. They simply record purchases and sales. My understanding is that RBS looked through the list of all CLO purchases and made an educated guess about whether the loans were bought in the primary or the secondary market. A third category of transactions recorded as “purchases” are in fact amendments. Presumably, CLOs were not set up to report amendments and so are forced to record them as a matching sale and purchase. These are easy to spot since the sale and purchase happen on the same day, for the same amount, and usually at par.

Comment by: Anonymous. Posted 13 years ago [2010-11-13 23:28:14]

Silly of me, sure it is. Usually the loans seems to be categorized in Primary or Secondary. Technically, which category "A&E" falls under? Thanks again.

Comment by: Anonymous. Posted 13 years ago [2010-11-13 12:50:07]

Replying to the comment below, I interpreted that remaining 21% to be the amend-and-extends.

Comment by: Anonymous. Posted 13 years ago [2010-11-12 23:26:54]

As mentioned above, recently 47% of loans were bought in the primary and 32% were secondary trades, Could someone please let me know how the rest of 21% were from?? I'm new to the space. Thank you.