LSTA members are eligible to participate in a number of Committees, Working Groups and Forums. Committees traditionally focus on practice areas on a regular basis. Working Groups address topics that may require only a few meetings in order to reach consensus on the specified issue. Forums convene on an ad hoc basis, allowing members to address a particular topic of concern at a given time. All three of these formats afford members valuable industry exposure and networking opportunities. What’s more, they give members a voice in the Loan Market.

Committees of the LSTA

Accounting Committee

The primary objectives of the Accounting Committee are: Discuss and examine existing market practices related to loan syndications and trading activities, Actively engage in standard-setting due process by monitoring developments arising from standard-setting activities by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) and Expand communication and education by: developing […]

CLO Committee

The CLO Committee was formed to share information and best practices among CLO managers, structurers and lawyers. In recent years, it has focused on LIBOR transition, as well as regulatory issues including TALF, risk retention, the Volcker Rule and issues arising from the SEC. The committee prepares analysis and white papers to support the CLO […]

ESG Committee

The ESG Working Group is focused on ESG developments in the loan market, which includes ESG integration as well as the development and evolution of ESG loan products. The Working Group has introduced an ESG Diligence Questionnaire for borrowers, an ESG Diligence Questionnaire for asset managers as well as worked with global loan trade associations […]

OSG Committee

The mission of the Operations Steering Group is to focus on a wide variety of strategic and tactical initiatives relating to loan servicing and loan settlement with a view toward achieving operational accuracy and efficiency.  Current policies and procedures are assessed, areas for improvement explored and content and information flows standardized, as workflow efficiencies are […]

Primary Market Committee

The Primary Market Committee is the largest committee of the LSTA with more than 500 members.  The Committee focuses on current legal issues in the primary market.  All LSTA primary market related legal product is vetted by this group of members.  It is recommended that each member of the LSTA nominate at least one person […]

Regulatory Committee

The mission of the Regulatory Committee is to develop and supervise the LSTA’s strategy for interfacing with regulators and other government entities. This Committee is open to LSTA members by invitation only.

Settlement Committee

The Settlement Committee is a consensus driven committee whose mission is to determine, articulate, recommend, and implement operational, documentation and technological changes within the loan market to improve settlement. This committee intends to effect change that will directly result in a more efficient and orderly syndicated loan market.  This Committee is open to LSTA members […]

Trade Practices and Forms Committee

The Trade Practices and Forms Committee has approximately 290 members. The Committee seeks to develop market conventions that govern trading and settlement of par and distressed loans.  Since its inception, the Committee has worked to identify key market issues and to build consensus toward resolving those issues through the drafting and adoption of standard. documents and […]

Women’s Committee

This committee was established in 2016 and already has more than 750 members.  The committee hosts several events and networking evenings throughout the year.  Please contact Lisa Schneider for further information.

Working Groups of the LSTA

Buy-Side Operations Working Group

The Buy-side Operations Working Group is a forum used to discuss operational issues and initiatives. Membership of this Working Group is open to all LSTA buy-side members.

CUSIP Working Group

The CUSIP Working Group seeks to develop policies and procedures regarding the application of CUSIPs by Agent Banks for all corporate loan deals and facilities and the subsequent incorporation of CUSIPS into all loan systems. Interested parties should contact Ellen Hefferan for more information.

Custodian/Trustee/Fund Administrator Operations Working Group

The Working Group’s mission is to represent the common interests of this constituency while ensuring alignment with the core principles of the LSTA and its broader membership. By focusing on a variety of strategic and tactical initiatives, the working group will proactively advocate for best-practice recommendations; build consensus across providers to ensure standardization where possible; […]

Custody Working Group

The purpose of the working group is to resolve issues relating to whether managers of loans have custody of client assets under SEC rules.

ESG Advisory Board

The ESG Advisory Board is comprised of market thought leaders on ESG developments. This group advises the LSTA on its ESG strategy, participates in relevant regulatory responses and sets the agenda for ESG projects. The Advisory Board is open to LSTA members by invitation only.

Latin America Initiative Working Group

The LSTA continues to expand its offering of LSTA legal product for cross border transactions with borrowers in Latin America.  The LSTA has published the LSTA Cross-Border Confirm and Form of Participation Agreement for settling trades of loans made to borrowers in Chile, Colombia, Mexico, and Peru. All members are welcome to join the working […]

Leveraged Lending Guidance Working Group

Leveraged Lending Guidance Working Group engages on Leveraged Lending Guidance with market participants and regulators via roundtables, meetings and comment letters.  Interested parties should contact Meredith Coffey or Tess Virmani for more information. 

LIBOR Working Group

The LIBOR Working Group was replaced with the SOFR Working Group for documentation issues and the LSTA Weekly LIBOR Q&A call to address topical LIBOR efforts. The LSTA is a member of the Alternative Reference Rates Committee (ARRC) and co-chair of the ARRC’s Business Loans Working Group. Please contact Meredith Coffey for more information.

LIBOR/SOFR Working Group

The LIBOR/SOFR Working Group is comprised of member individuals who are interested in the global transition to replacement benchmarks and, in many cases, these individuals are responsible for one or more aspects of their institution’s transition plans. There is an LSTA Weekly LIBOR Q&A call to address topical LIBOR efforts and a number of documentation […]

MEI Working Group

The MEI Working Group is charged with formulating best practices for MEIs, including MEI application procedures, documentation requirements, validation processes and overall maintenance. Interested parties should contact Ellen Hefferan for further information.

SOFR Amendments Working Group

The SOFR Amendments Working Group is generally comprised of loan market lawyers, both in-house counsel and private practitioners, tasked with developing generic forms of amendment designed for use in amendments to LIBOR-referenced credit agreements to reference a replacement benchmark rate. The Term SOFR and Daily Simple SOFR versions are currently in development. Interested parties should […]

LSTA Committees - Board Members

Finance and Compensation Committee

The Finance & Compensation Committee reviews the detailed financial budget of the LSTA, including LSTA staff compensation. The Committee is currently examining possible alternative revenue streams for the LSTA.

Liquidity Committee

The Liquidity Committee is focused on evaluating liquidity of the asset class and recommending changes to trade settlement procedures.

Nominating Committee

Analyze Current LSTA Board & Officers and identify Institutions and Individuals for future Boards to be voted in by LSTA Membership.

Become a Member

Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.

View Current Members

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Climate Disclosures Must be Material

Tess Virmani weighs in on the SEC’s climate-related disclosure proposal, the LSTA’s response and what it could mean for the loan market.