The Federal Reserve recently published its April 2025 Senior Loan Officer Opinion Survey (SLOOS) on Bank Lending Practices. Responses were received from 70 domestic banks and 19 U.S. branches and agencies of foreign banks. The survey covers commercial and industrial (C&I), consumer and real estate loans, but we will focus on the C&I results as...
The Bank of England (BoE), the Federal Reserve (Fed) and the International Monetary Fund (IMF) recently published their semi-annual financial stability reports (FSR). As they are likely indicators of the areas on which regulators will focus their agendas in the near-term, we continue to monitor these reports for changes in the coverage of and tone...
This spring, Congress passed the LIBOR Act, which was intended to create a clear and uniform process for touch legacy contracts – those lacking workable LIBOR fallback language – to transition to replacement rates. In July, the Federal Reserve released a proposal to implement the LIBOR Act. While business loans typically have some form of...
This spring, Congress passed the LIBOR Act, which was intended to create a clear and uniform process for touch legacy contracts – those lacking workable LIBOR fallback language – to transition to replacement rates. In July, the Federal Reserve released a proposal to implement the LIBOR Act. While business loans typically have some form of...
On April 9, 2020, the Federal Reserve took additional actions to provide up to $2.3 trillion in loans to support the economy. The programs include an unsecured “Main Street New Loan Facility”, a secured “Main Street Expanded Loan Facility” and an expanded TALF program that now includes AAA tranches of new CLOs....
In response to the “Request for Information Relating to the Production of Rates”, the LSTA submitted a letter to the Federal Reserve discussing the impact of a transition from LIBOR to SOFR (or another reference rate) on the U.S. syndicated loan market. The letter discusses key stakeholders in the syndicated loan market and why they...
