OREANDA-NEWS. February 16, 2015. The number of combined defaults and deferrals for U.S. bank TruPS CDOs marginally decreased to 21% at the end of January from 21.1% at the end of December, according to the latest index results published today by Fitch Ratings.

In January, four banks representing \\$35 million of notional in six CDOs cured. Additionally, three previously cured banks representing \\$18 million of notional in three CDOs redeemed their TruPS.

There were no new deferrals of defaults in January. A previously defaulted bank, Beverly Hills Bancorp, received a recovery of 8% on its TruPS par value and has been removed from the portfolio.

Across 78 Fitch-rated TruPS CDOs, 234 defaulted bank issuers remain the portfolio, representing approximately \\$6.0 billion of collateral. 167 issuers are currently deferring interest payments on \\$1.9 billion of collateral.