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Private credit funds, partner banks present risks as global growth slows—IMF
14 days ago
Private credit funds and their partner banks can face losses as a slowing economy will challenge borrowers’ ability to repay loans -
US CLO managers and investors turn away from Europe after risk retention changes
19 days ago
EXCLUSIVE: The reassessment is the latest consequence of the new European Supervisory Authorities’ revised guidance on risk retention -
Regulators seek to calm European CLO market shaken by new risk retention guidelines
27 days ago
The European Supervisory Authorities have since issued clarification to allow deals that priced prior to 31 March to be grandfathered in under the previous interpretation -
UK regulator puts SRT financing under the microscope
1 month ago
ANALYSIS: UK's Prudential Regulation Authority has flagged concerns about banks’ collateral management when providing investors leverage for SRTs -
European CLO market scrambles to comply with new regulations on risk retention
1 month ago
A revised regulatory interpretation at the beginning of this week left plenty of managers and lawyers sleep-deprived -
Partners' latest CLO adjusted to meet new EU risk retention guidelines
1 month ago
The European deal is among the first to be impacted by an unexpected interpretation for EU risk retention issued with immediate effect at the beginning of this week -
Private credit managers need valuation process around market events - UK regulator
2 months ago
The FCA released a private markets review recommending firms identify and manage potential issues around valuations, especially those conducted as a result of asset-level or market events. -
UK changes to securitisation expected to have limited impact on CLOs
11 months ago
As Creditflux went to press, lawyers across the City of London were coming to grips with the meat of the UK’s new securitisation regime, the so-called Edinburgh Reforms -
New AIFMD directive imposes leverage limits for European direct lending
1 year ago
The Council of the European Union has rolled out new regulations that should streamline the origination process for direct lenders at the cost of strict limits of leverage for funds -
Securities regulators call for improvement in practices in CLO market
1 year ago
IOSCO, an international policy forum for securities regulators, has called for improvement in practices in both the leveraged loan and CLO markets. -
Proposed regulation changes could open up US CLO funds to UK investors
1 year ago
Proposed changes to the UK Securitisation framework may expand the investor base for US structured credit if passed. -
New US CLOs brace for EU’s Article 7 reporting requirements
2 years ago
Investors now need Article 7 reporting compliance for new non-EU securitisation investments (such as US CLOs). This includes high-level portfolio reporting to investors, including loan-by-loan data in greater depth than even CLO trustee reports provide. -
US managers brace for CLO reporting overhaul as new EU investments become subject to Article 7
2 years ago
US CLO managers could face an administrative headache with EU investors investing in new and secondary market US CLOs now requiring more exacting detail of underlying portfolios. This follows the long-awaited European Commission Securitisation Regulation report overhauling investment rules -
CLO arrangers and managers prepare for new marketing rule from November
2 years ago
CLO arrangers will need to work together with CLO managers in the coming weeks to ensure compliance, interpret the rules and set guidelines over what they can and cannot communicate with investors without disclosures -
Regulators give securitisation another tranche
2 years ago
A gloomy economic outlook and drought in primary markets cast a deflated mood over last month’s Global ABS 2022 conference in Barcelona. But regulators and central banks’ encouraging attitude towards securitisation was in sharp contrast -
CEO steps down after DWS greenwashing allegations lead to police raid
2 years ago
A tumultuous 24 hours for DWS Group, in which police and regulators raided its office, has been compounded by the resignation of its chief executive officer Asoka Woehrmann on Wednesday morning -
"When the US market gets legislation it does not like, people sue..."
2 years ago
The difference between Americans and Europeans in regards to CLOs -
We’ll get through this awkward patch
2 years ago
Wide liabilities have made pricing CLOs trickier in the past few months. But speakers at Creditflux’s CLO Symposium were optimistic that the arbitrage is OK — so long as you can place those triple As -
Phase 6 of uncleared margin rules drives CDS clearing volumes
3 years ago
2022 is shaping up to be a bumper year for CDS clearing activity, not only due to increased trading of the asset class, but a confluence of other factors, such as regulations, product expansion and wider geographical reach -
SEC's CDS proposals could impede market rather than help it: Barclays
3 years ago
New rules proposed by the US Securities & Exchange Commissions to tighten oversight of the CDS market could mean big changes for the market and have the effect of sapping activity, warn Barclays credit strategists in a note published on Thursday -
CLOs retreat back to Libor as Sofr gets cancelled
3 years ago
Cancel culture has arrived in the CLO market, with newly implemented benchmark Sofr having been scrapped in favour of a return to Libor, after it 'made managers feel sad' -
CLO lawyer joins Schulte Roth & Zabel as partner in London
3 years ago
Schulte Roth & Zabel has hired a CLO expert as partner in its London office -
CLOs go island hopping as EU rules bar Cayman Islands
3 years ago
Swathes of CLO special purpose vehicles are set to be relocated this month following the introduction of European Union regulations designating the Cayman Islands as a money laundering location -
Luxembourg welcomes CLOs with regulatory update
3 years ago
Luxembourg updated its securitisation regulations on Wednesday in a move which, among other things, makes the country a more CLO-friendly domicile -
Luxembourg opens for CLO business after regs update
3 years ago
Upcoming changes to Luxembourg’s securitisation regulation could deliver a huge boost to its CLO market, in a move that would see the jurisdiction compete with market leader Ireland
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