Japanese banks own 20% of collateralised loans market - survey

TOKYO (Reuters) - Japanese financial institutions hold nearly 20% of the world's collateralised loan obligations (CLO), potentially exposing them to big losses if the coronavirus pandemic erodes the creditworthiness of debt, a survey showed on Tuesday.CLOs are securities backed by a pool of loans taken out by firms with high levels of debt and typically a non-investment grade credit rating.A rapid expansion of the CLO market was partly blamed for triggering the collapse of Lehman Brothers in..