On March 31, 2017, Senator Pat Toomey (R-Pa.) sent a letter to the Comptroller General of the U.S. General Accounting Office (GAO) asking whether the Interagency Guidance on Leveraged Lending constitutes a “rule” for purposes of the Congressional Review Act (CRA).  The CRA applies to agency “rules” (as defined in the CRA) and provides an expedited mechanism for Congress to invalidate rules that it disapproves. Senator Toomey has requested a response from the GAO by June 1, 2017. To provide its members with background on the CRA and the possible implications of Sen. Toomey’s request, the LSTA has worked with Sidley Austin to compile this series of questions and answers on the CRA and the Leveraged Lending Guidance.


Become a Member

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.

View Current Members

Our Partners

CUSIPFitch Group logoMorningstarRefinitiv-(March-2019)
Total Results: 

Sort by:

Are Lenders Being Compensated for LMT Risk?

October 2, 2023 - At next week’s LSTA Annual Conference, Meredith Coffey (LSTA), David Lerner (Shenkman Capital), Steve Miller (Fitch Solutions), Mike Nechamkin (Octagon) and…