You've seen certain credit type products that are going to be in nonbanks, like sophisticated CLO [collateralized loan obligation] tranches and stuff where the capital charge is so high that a bank simply will not own it. Someone will buy it, hedge it, trade it. But it won't typically be a bank.
![You've seen certain credit type products that are going to be in nonbanks, like sophisticated CLO [collateralized loan obligation] tranches and stuff where the capital charge is so high that a bank simply will not own](http://cdn.quoteddaily.com/images/jamie-dimon/youve-seen-certain-credit-type-products-that-are-going-to-be-in-nonbanks-like-sophisticated-clo-collateralized-loan-obligation-tranches.jpg)