The LSTA joined an amicus brief in a Colorado case that is considering the question, “can a loan validly originated become invalid because it is subsequently sold or assigned to another party?” Until very recently, the answer to that questions was emphatically no. The case in which the LSTA, the Bank Policy Institute and the […]
Syndicated Loan Market Advocacy & RegulatoryThe LSTA advocates on behalf of the loan market, and focuses on critical matters (regulations under Dodd-Frank, Leveraged Lending Guidance, FATCA and Bankruptcy reform) that could dramatically affect the loan market and the broader economy.
The Loan Syndications and Trading Association (“LSTA”) appreciated the opportunity to comment on the Securities and Exchange Commission’s (the “SEC”) proposed rule release (“Proposal”)2 regarding the proposed amendments to Rule 206(4)-1 (the “Advertising Rule”) and Rule 206(4)-3 (the “Solicitation Rule”), both under Section 206 of the Investment Advisers Act of 1940, as amended.
This presentation was moderated by our very own Meredith Coffey and presented by Brian Battle of Performance Trust, Agha Mirza of CME and Jerome Schneider of PIMCO at the CFA Society Chicago
LIBOR, “the world’s most important number”, is likely to cease after 2021. This presents significant—but hopefully surmountable—challenges. We discuss the LIBOR problem, timeline and potential shorter- and longer-term solutions. We know whereof we speak; the LSTA is a member of the overall Alternative References Rates Committee (“ARRC”), the body tasked with replacing U.S. dollar LIBOR. […]
Broadly syndicated loans to non-investment grade U.S. Corporations are widely misunderstood outside of the loan industry. A number of commentators imply that leveraged loans are shadowy corporate equivalents to pre-crisis sub-prime mortgages. This is clearly not true and, to respond to such conflations, the LSTA recently published this white paper addressing these views.
American Family Insurance concluded in this report that leveraged loans do not pose a systemic risk at this time. The report, authored by analyst Steven Kelly and shared with the LSTA, is a response to press and regulatory inquiries into this question such as the Bank of International Settlements report released on Sunday.
This presentation was done at the 25th Annual ABS East Conference in Miami, FL. This presentation was moderated by our very own Meredith Coffey and it was presented by David Frey of HPS Partners, Claire Hall of DLA Piper, Steve Kudenholdt of Dentons and Phillip Thigpen of PWC. We discussed the general types and attributes […]
This was presentation was done at the 25th Annual ABS East Conference that took place in Miami. The presentation was moderated by our very own Meredith Coffey and it presented by Melanie Gnazzo of Chapman, Greg Hertick of Nomura, Richard Hopkin of AFME, Peter Phelan of US Department of Treasury, Alexey Surkov of Deloitte & […]
You may be fielding questions about the recent move in repo rates, ARRC gives you some perspective.
Most U.S. lenders and borrowers realize that LIBOR is likely to end sometime after 2021. However, they are less familiar with SOFR, the Secured Overnight Financing Rate, which will be the fallback for U.S. dollar derivatives and likely will be the fallback for cash products. Thus, lenders are keenly interested in seeing what SOFR actually looks like. To tackle that […]
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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.