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.


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OCC Delivers on Climate Promise

LSTA's Tess Virmani, AGC & EVP – Public Policy, Head of ESG, looks into OCC draft supervisory principles on climate risk.

Why LIBOR Transition Really is Like Y2K

How is LIBOR Transition really like Y2K? The LSTA’s Meredith Coffey explains (and owns) the analogy and discusses today’s SOFR economics and tomorrow’s workstreams.