OREANDA-NEWS. The number of combined defaults and deferrals for U.S. bank TruPS CDOs remained at 18.8% at the end of August compared to the previous month, according to the latest index results published today by Fitch Ratings.

In August, two defaulted issuers, with a total notional of \\$9 million in two CDOs, were sold from their respective portfolios with an average recovery of 20.8%. In addition, one cured issuer with notional of \\$2.9 million in one CDO redeemed its TruPS. There were no new deferrals, defaults, or cures in August.

Across 76 Fitch-rated TruPS CDOs, 229 defaulted bank issuers remain in the portfolio representing approximately \\$5.6 billion of collateral. Additionally, 128 issuers are currently deferring interest payments on \\$1.5 billion of collateral.