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 […]

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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.

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Market Advisory on FIRPTA

The LSTA published a Market Advisory which discusses the implications of The Foreign Investment in Real Property Tax Act (“FIRPTA”).