Search Results

Total Results: 

GAO on LLG: What Now?

Last week we reported that the Government Accountability Office (“GAO”) issued an opinion that the Leveraged Lending Guidance (“LLG”) was a “rule” subject to the Congressional Review Act (“CRA”) and explained how that ruling could have profound implications for the loan market.

Will the Leveraged Lending Guidance GAO Away?

In a step that could have far reaching implications for the loan market, on Thursday, the Government Accountability Office (“GAO”) issued an opinion that Leveraged Lending Guidance (“LLG”) issued jointly by the OCC, the Federal Reserve Board and the FDIC (the “Agencies”) is a “general statement of policy” and therefore considered a “rule” for purposes of the Congressional Review Act (“CRA”) and must be submitted to Congress for review. For the uninitiated, this could be big. Really big. The GAO’s decision is available here.

Leveraged Lending Rule?

In case you missed it, there is potentially momentous – if Washington-centric – news on Leveraged Lending Guidance. Last Friday, Senator Toomey (R-PA) sent a letter to the Government Accountability Office (GAO) asking whether the Leveraged Lending Guidance actually was a “rule” in guidance’s clothing, Politico Pro and American Banker reported. Why does this matter? It could, theoretically, mean that Leveraged Lending Guidance is changed – or even goes away.

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.

View a list of all members.

Our Partners

cusip-global-services-vector-logo.svgFitch Group logoRefinitiv-(March-2019)SP-Global-Market-Intelligence

Search Results by Relevancy

LSTA Newsletter: January 24, 2020

This week we recap secondary trading for 2019, give an update on LIBOR transition in the U.K., and let you know that we’ve published a credit agreement for investment grade term loans.

LSTA Secondary Trading 2019 Executive Summary

After recording consecutive record highs during the fourth quarter of last year ($211 billion) and again during the first quarter of this year ($212 billion), secondary loan trading volumes decreased 10% in the second quarter, to $191 billion.

LSTA Publishes its Second Credit Agreement

Today the LSTA published a new addition to its document library – the LSTA’s Form of Credit Agreement – Investment Grade Term Loan. This form is designed for a standalone term loan for investment grade borrowers.