This week we cover Supervisory Statements & Leveraged Lending Guidance; Next Steps for LIBOR; Delaware Law, Loan Docs & Asset Transfers
This week we cover SOFR Snafu, Guidance Rumors, Small Company Bankruptcy Reform, and the LSTA’s ABA Panel
Since the Comptroller of the Currency spoke at Las Vegas in February, rumors have been flying that Leveraged Lending Guidance is dead. In fact, it is not. Below, we discuss what the Comptroller said in his speech as well as recap what we’ve heard – from very good sources – about the future of the Guidance.
A presentation done by Meredith Coffey of the LSTA and Randy Schwimmer of Churchill at the RMA conference on March 14, 2018
This week we cover Cov-Lite Recoveries, LLG Prospects, January Trends, and CR & NFIP
Last year, the fate of Leveraged Lending Guidance was thrown into question when Senator Pat Toomey alleged – and the Government Accountability Office (GAO) confirmed – that it was a Rule for the purposes of the Congressional Review Act (CRA). As we reported in December, Representative Leutkemeyer then wrote to the Federal Reserve, OCC and FDIC to ask what their next steps were in reviewing and possibly reopening the Guidance.
The Leveraged Lending Guidance story line may be accelerating. In March 2017, Senator Toomey (R-PA) asked the Government Accountability Office (“GAO”) whether Leveraged Lending Guidance was a rule under the Congressional Review Act (“CRA”).
The next few weeks may be chockablock with regulatory goings-on that potentially affect the loan market. We provide a watchlist below, a recent presentation (attached) and will analyze each issue as details emerge.
This is presentation was done by Meredith Coffey, LSTA EVP at the IACPM – 2017 Annual Conference
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