This week, we start off pondering the August secondary slump (but console ourselves with the YTD 6.5% return). We then turn to CLOs by: 1) analyzing their ownership and runnability and 2) defending them in the press. And what’s a week without LIBOR? We end with the latest (accounting) hurdle to LIBOR transition being knocked […]
The Financial Accounting Standards Board (FASB) released proposed guidance last week intended to ease the potential accounting burdens of LIBOR transition for loan market participants.
The Office of Information and Regulatory Affairs announced last week that the Treasury Department will consider issuing guidance to define the tax implications of LIBOR transition, signaling the third key phase of regulatory relief sought by private sector groups overseeing transition to a new loan reference rate.
This week we cover Are Loans Rational? Risk Retention Returns? 2Q19 Trading & FASB LIBOR Relief
The Financial Accounting Standards Board has agreed to issue additional LIBOR transition relief, providing the loan market assurance that the accounting body will address the major accounting issues presented by the transition.
In a decision that could significantly ease the loan market’s transition from Libor to an alternative reference rate, the Financial Accounting Standards Board announced recently that it will soon take steps toward providing much-needed accounting relief for firms and organizations affected by the transition.
On November 14th, the LSTA hosted a webinar on “Planning for Changes in GAAP: Credit Agreement Implications” presented by Howard Friedman of PriceWaterhouseCoopers, Ken Steinberg of Davis Polk, and Ramya Tiller of Debevoise. The presenters noted that we are in one of the most active periods (if not the most active period) for accounting changes ever with significant developments in revenue recognition and lease accounting taking place. On January 1, 2019, private companies must comply with the new revenue recognition (ASC 606), something with which public companies had to comply earlier this year.
LSTA Submits Comment Letter on FASB’s Proposed Accounting Standards Update: Financial Instruments—Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities
LSTA submits Comment Letter on FASB’s Supplementary Document: Accounting for Financial Instruments and Revisions to the Accounting for Derivative Instruments and Hedging Activities – Impairments
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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.