Like many others, we watched Treasury Secretary Mnuchin’s testimony before the House Financial Services Committee with great interest. Unlike most, we were less fascinated with “Gavelgate”, than we were with a discussion on leveraged lending and CLOs.
On Friday, May 26, 2017, LSTA EVP Meredith Coffey and general counsel Elliot Ganz met with Craig Phillips, Counselor to Secretary of the Treasury Steven Mnuchin to discuss a number of regulatory issues impacting the loan market. The meeting was connected to an Executive Order on Core Principles for Regulating the United States Financial System (the “EO”) issued by president Trump early in February that enumerates “core principles” by which the administration will be guided in regulating the U.S. financial system. Most relevant to the loan market is a provision to “make regulation efficient, effective, and appropriately tailored.”
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.