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Banks agency MBS holdings decline in second quarter

Barclays client note shows biggest gainers and decliners

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The National Information Center has released consolidated financial statements for bank holding companies for the second quarter, according to a client note from Barclays, showing agency MBS holdings decreased by $4 billion for the top 50 banks by assets in their HTM and AFS portfolios.

“Most of the decline came in conventional agency MBS holdings, which fell by $4.2 (billion),” Barclays says. “Agency CMO holdings decreased ($900 million), while the GNMA holdings increased $1.1 (billion).”

U.S. Bancorp had the largest increase in agency MBS holdings, adding $4 billion, while Bank of America reduced its holdings by $8.8 billion.

Holdings of non-agency MBS of the top 50 banks decreased by $4.4 billion, while CMBS holdings rose by $7.4 billion. Treasury holdings increased by $48 billion, while agency debt holdings fell $8.9 billion on a quarter over quarter basis.

Overall, Barclays found, allocation of bank portfolios to securities increased by $72.8 billion over the quarter.

Allocations to loans and leases rose by $95.5 billion, while cash, net fed funds, and reverse repo were flat on a quarter-over-quarter basis.

In the loan books, C&I loans increased by $40.6 billion from the first quarter.

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