Pages from LeveragedLoans_CLOs_WhitePaper_111523_v2

In this whitepaper, the LSTA reviews the official sector’s definitions of systemic risk, characteristics of systemic risk and transmission channels for systemic risk. We analyze leveraged loans and CLOs’ characteristics to demonstrate why they do not post a systemic risk to the U.S. financial system.



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The Kirschner Case: This is the End

The Supreme Court denied Kirschner's petition for certiorari, finally ending the case. As LSTA's Elliot Ganz explains, this cements that syndicated loans are not securities,…