The LSTA submitted a comment letter on proposed changes to the Volcker Rule. Importantly for the loan and CLO markets, the proposal puts into play the issue of whether banks can own the debt securities of CLOs that hold bonds. The LSTA’s comment letter focuses on two points. First, it suggests that the final rule’s...
366 Madison Avenue, 15th Floor, New York, NY 10017 Tel: 212.880.3000 Fax. 212.880.3040 www.lsta.org September 13, 2017 Patrick Tierney Assistant Director Legislative and Regulatory Activities Division Office of the Comptroller of the Currency 400 7th Street SW, Suite 3E-218 Washington, D.C. 20219 Re: Docket ID OCC-2017-0014 Request for Information -- Proprietary Trading and Certain Interests...
Banks are working with the trade associations to develop a draft template to facilitate amendments to remove bond baskets from legacy CLOs, thus “Volckerizing” them....
Reaction to the announcement by the Federal Reserve Board that it will issue a two-year extension of the conformance period under the Volcker Rule for debt securities issued by collateralized loan obligations (CLOs)....
Elliot Ganz, testified at a hearing before the House of Representatives’ Financial Services Committee entitled, “The Impact of the Volcker Rule on Job Creators, Part I”....
The LSTA filed a second letter to the regulatory agencies again requesting confirmation that the term “ownership interest” in the Final Volcker Rule does not include debt securities of CLOs and asking for expedited relief....
