Banks are working with the trade associations to develop a draft template to facilitate amendments to remove bond baskets from legacy CLOs, thus “Volckerizing” them.
Reaction to the announcement by the Federal Reserve Board that it will issue a two-year extension of the conformance period under the Volcker Rule for debt securities issued by collateralized loan obligations (CLOs).
Overview of the Volcker Rule
Elliot Ganz, testified at a hearing before the House of Representatives’ Financial Services Committee entitled, “The Impact of the Volcker Rule on Job Creators, Part I”.
LSTA submitted a letter to the Financial Stability Oversight Council not to extend the Volcker Rule’s prohibitions on proprietary trading to commercial loans.
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.