Early this week, the LSTA submitted a comment letter to the Japanese Financial Services Agency (“JFSA”) responding to its recent proposal to impose significantly higher capital charges on Japanese investors who purchase interests in certain securitizations that are not risk retention compliant. (For the Japanese language version of the comment letter click here and for the English language version click here).
Our summary of the Comment Letter we submitted on January 28, 2019.
The Japanese language version of the comment letter is available to download
This comment letter was submitted to the Japanese Financial Services Agency on its recent proposal that would impose significantly higher capital charges on Japanese investors who purchase interests in certain securitizations that are not risk retention compliant.
The LSTA submitted a comment letter on proposed changes to the Volcker Rule. Importantly for the loan and CLO markets, the proposal puts into play the issue of whether banks can own the debt securities of CLOs that hold bonds. The LSTA’s comment letter focuses on two points. First, it suggests that the final rule’s “loan securitization” […]
The Securities and Exchange Commission earlier this year issued a two-part release that could impact investment managers – including loan managers. The second part of the release requests comments regarding proposed enhanced investment adviser regulation. The LSTA this week submitted a comment letter on the two proposals, broadly supporting the recommendations of the Investment Advisers […]
In response to the “Request for Information Relating to the Production of Rates”, the LSTA submitted a letter to the Federal Reserve discussing the impact of a transition from LIBOR to SOFR (or another reference rate) on the U.S. syndicated loan market. The letter discusses key stakeholders in the syndicated loan market and why they […]
In response to a recent Executive Order from president Trump outlining “Core Principles” for financial regulation and seeking suggestions for streamlining financial regulation, the LSTA submitted a letter to Treasury Secretary Mnuchin. The letter outlines why the application of the Dodd-Frank risk retention provides no benefits but causes substantial harm to borrowers, investors, managers and, […]
On Thursday August 18, 2016, the Loan Syndications and Trading Association (LSTA) submitted a comment letter to the OCC, Federal Reserve, FDIC, FHFA, NCUA and SEC in response to their notice of proposed rulemaking on Incentive-Based Compensation Arrangements.
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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.