This edition of Loans Magazine provides LSTA members with valuable content on the latest developments in the syndicated loan market and beyond. It begins with LSTA Executive Director, Lee Shaiman’s letter to membership that questions, “If the skies are in fact clear again?” and an article by Duke Law School’s Elisabeth de Fontenay on loan market Norms, Law, and Contract.  LSTA staff then transition to loan market developments including LIBOR FAQs (& answers), the record pace of secondary trading volume and the increased focus on ESG considerations. Finally, we turn to legal, operations and regulatory, with an overview of the LSTA’s Form of Erroneous Payment Provision, initiatives designed to reduce settlement times, and how to lay the groundwork for success in Washington.