This edition of Loans Magazine provides members with valuable content on the latest developments in and around the loan market. It begins with Lee Shaiman’s letter to membership followed by a look back on the loan market’s relative outperformance in 2022. We then turn to LIBOR cessation and why Synthetic LIBOR won’t save the day. We continue with an update on LSTA public policy & advocacy efforts and an article explaining why merging technology with human capital is so very important to successful loan operations. This edition then concludes with an overview of our 2023 Legal project, “the Emerging Business Agreement”, and a summary of how the LSTA is advancing ESG Data through our ESG Integrated Disclosure Project.