For our members who are familiar with the LSTA’s KYC Guidelines, “Know Your Customer Considerations for Syndicated Lending and Loan Trading” (“KYC Guidelines”) we have news to share with you. Although several years have passed since the KYC Guidelines were first published in 2016, many LSTA bank members still seem to struggle to adhere to them and continue to perform KYC diligence on loan market participants which far exceeds U.S.regulatory requirements. We are optimistic that recent meetings with bank regulators may lead to developments that will give our banking members the comfort they need to revise their internal compliance procedures and implement the KYC Guidelines.