The sound you may be hearing is CLO managers’ and underwriters’ collective sigh of relief. As detailed in a Cadwalader’s very comprehensive memo, three European Union legislative institutions have agreed on compromise amendments to proposed EU rules for “simple, transparent and standardized” (“STS”) securitization (the “Securitization Regulation”). They have also reached agreement to proposed regulations impacting the Capital Requirements Regulation (“CRR”).
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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.