BIS said the high-risk loans have climbed to $1.4 trillion and are increasingly being sliced and diced

The Bank for International Settlements said the high-risk loans have climbed to $1.4 trillion and are increasingly being sliced and diced much like subprime mortgage debt before 2007.

They are packaged into debt securities known as collateralised loan obligations (CLOs) and mostly sold to unknown funds.

Leveraged loans are a form of bank lending to heavily indebted companies with junk credit ratings.

Ambrose Evans-Pritchard Telegraph 22 SEPTEMBER 2019  

BIS Report

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