Search for clarity over reporting templates leads European CLO managers to tech solutions2 months ago
Service providers are seeking to help European CLO managers comply with their disclosure requirements under the EU securitisation regulation after it emerged last month that relevant reporting must be submitted by March at the latest.
Regrettably, a small number of CLO debt investors insist on ‘hardcoded’ Sofr replacement provisions2 months ago
Sofr looks like the most likely candidate to replace Libor, but it is still risky to write it into CLO documentation
FisherBroyles hires derivatives and regulations specialist as partner2 months ago
FisherBroyles, an Atlanta headquartered law firm, has hired derivatives and securities specialist Julian Hammar as a partner in its New York and Washington, DC offices
CLO market awaits further Volcker amendments as initial tweaks centre on prop trading5 months ago
CLOs will not be impacted by changes to the Volcker rule announced yesterday, which means that rules limiting bond buckets in US CLOs will remain intact for the immediate future. Instead, regulators revealed that some of the rules around bank proprietary trading will be relaxed
Investors raise concerns over obscure wording in CLO docs6 months ago
Europe’s structured credit market has been abiding by the Securitisation Regulation for the best part of six months, but some investors have told Creditflux that they are still not satisfied with the way European CLOs are accounting for potential fines.
US CLO managers see positives as docs include negative notation language to ease move to new reference rate6 months ago
Europe might be making progress, but US CLO managers are less than preoccupied with the looming transition away from US dollar-Libor based pricing.
CLO issuance faces threat amid loan definition dispute7 months ago
The clash over Millennium Laboratories’ bankruptcy could have ramifications for the CLO market, and it all hinges on the philosophical question: what is a loan?
Cayman Island hopping: EU laws provoke switch in CLO listings7 months ago
The Cayman Islands Stock Exchange (CSX) is set to become the listing place of choice in 2019 for CLOs put together by US managers — at least, according to a bold prediction by law firm Harneys.
Cadwalader's Tobias: investors are pushing back against cash leaking out of a CLO [video]8 months ago
Cadwalader partner Daniel Tobias discusses the impact of the EU's Securitisation Regulation for CLOs at the Creditflux CLO symposium on 8 May
Ashurst promotes structured products lawyer as one of 21 new partners8 months ago
Ashurst has promoted to partner a London-based lawyer who specialises in derivatives and debt capital markets
Japanese investors must confirm assets are appropriate... CLO managers can provide assurances9 months ago
The stipulation that Japanese banks invest in appropriately formed assets is unlikely to hurt the CLO industry
Japan regulation affords CLOs breathing room9 months ago
Japan’s regulators have avoided disruption of the global CLO market by softening the impact of their risk retention rules that came into effect in March
Leveraged loans pose credit risk but not systemic risk, conference told9 months ago
Regulators and the press need to understand the difference between credit risk and systemic risk, claimed panelists at the IMN European CLOs and Leveraged Loans conference
Ashurst hires counsel with structured products experience10 months ago
Ashurst has appointed a counsel in its global markets practice in Paris
Japanese regulator makes CLOs exempt from risk retention - if loans are appropriately originated10 months ago
The Japan Financial Services Agency (FSA) has said that CLOs can sit outside the remits of its securitisation regulation, if investors in the country can provide ‘in-depth analysis’ showing the underlying assets were appropriately originated
Securitisation Regulation hits European ABS issuance10 months ago
Issuance in traditional European ABS has been notably slow in the first two months of 2019 following the introduction of the new Securitisation Regulation.
US dollar three-month is focus point for benchmarks, finds Ice Libor survey10 months ago
One-, three- and six-month US dollar and sterling are the focus points for Ice Benchmark Administration to seek agreement with banks, according to the results of IBA’s survey on uses of Libor
CLO market holds breath as Japan risk retention looms11 months ago
Risk retention compliant US CLOs could make a comeback after the Japan Financial Services Authority (JFSA) unveiled its proposed new risk retention framework, which could tie the hands of the world’s biggest buyers of US CLOs
Market welcomes Esma loosening of securitisation regs but questions remain11 months ago
The European Securities and Markets Authority (ESMA)'s revision of the reporting templates that must be completed under the securitisation regulations addresses many of the concerns raised by market participants but leaves some points of difficulty, according to industry lawyers
CLO docs shed light on implementation of Securitisation Regulation11 months ago
Market participants are beginning to get visibility on how European CLOs are handling the transparency obligation and the risk of fines under the European Securities & Markets Authority’s (Esma) Securitisation Regulation, according to a report on Creditflux’s sister publication Debtwire
ESAs extend reporting olive branch to European CLOs1 year ago
A group of European supervisory authorities (ESAs) have raised hopes that CLOs could avoid some of the toughest reporting requirements under the securitisation regulations coming into effect in January
Past returns: Bond buckets are pipedreams, right?1 year ago
Five years ago in Creditflux we reported that Webster Bank’s CLO tranche investor Francis Mitchell had created a working group in response to the Volcker rule determining that regional banks could no longer invest in CLOs with bond buckets
Merry Christmas from the EU: Commission gifts regulatory relief to securitisations1 year ago
European securitisers can breathe a sigh of relief today after the European Commission has endorsed calls to relax its securitisation regulation
European regulators look to soothe CLO reporting jitters1 year ago
The European Supervisory Authorities (ESAs – EBA, ESMA and EIOPA) have sought to calm the nerves of the European CLO industry ahead of a securitisation regulation framework that is due to come into effect from January
Golub Capital BDC looks to become fourth largest publicy traded BDC with merger1 year ago
Golub Capital is seeking approval from its shareholders to merge its Golub Capital business development company (GBDC) with another one of its business development companies, Golub Capital Investment Corporation (GCIC)
Want all the latest news, comment, analysis and data?