The global financial crisis exposed critical vulnerabilities in the banking sector, prompting swift action from the Basel Committee for Banking Supervision (the "Basel Committee"). In November 2010, they unveiled the original...more
The High Court of England and Wales has recently provided welcome clarification around the nature of events of default under derivatives contracts governed by the ISDA Master Agreement, in particular in relation to whether an...more
CMRP has introduced new EU rules for NPL securitisations and a framework for “STS” synthetic securitisations -
On 1 January 2019 EU Regulation 2402/2017 (Securitisation Regulation) started to apply, giving rise to one of...more
4/6/2021
/ Capital Markets ,
EU ,
Framework Agreement ,
MiFID II ,
Non-Performing Loans (NPL) ,
Prospectus ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Retention ,
Securitization Standards ,
Small and Medium-Sized Enterprises (SMEs)
Significant changes are taking place to certain inter-bank offered rates (IBORs) commonly used as interest rates in derivatives and other financial contracts. In the UK, LIBOR (the London inter-bank offered rate) is expected...more
The International Swaps and Derivatives Association, Inc. (ISDA) has launched the ISDA 2020 IBOR Fallbacks Protocol -
Who should read this Client Alert?
If you have derivatives contracts that are linked to, or refer to,...more
The International Swaps and Derivatives Association, Inc. (ISDA) has published the ISDA 2020 IBOR Fallbacks Protocol (the IBOR Fallbacks Protocol). This client alert sets out key issues counterparties may wish to consider in...more
The International Swaps and Derivatives Association, Inc. (ISDA) has just announced that the ISDA 2020 IBOR Fallbacks Protocol will be launched on 23 October 2020....more
The current COVID-19 pandemic has already impacted many derivatives transactions. This note sets out a checklist of key legal issues market participants may need to consider in relation to OTC derivatives contracts....more
7/4/2020
/ Basel Committee on Banking Supervision (BCBS) ,
Business Disruption ,
Contract Termination ,
Contract Terms ,
Coronavirus/COVID-19 ,
Derivatives ,
Dispute Resolution ,
Financial Markets ,
Force Majeure Clause ,
IOSCO ,
ISDA Master Agreement ,
Market Participants ,
Material Adverse Events ,
Notice Requirements ,
Over The Counter Derivatives (OTC) ,
Popular ,
Risk Assessment
The current COVID-19 pandemic has led to huge disruption in financial markets and larger collateral swings. This note sets out some issues market participants may need to consider in relation to collateral under OTC...more
5/4/2020
/ Basel Committee on Banking Supervision (BCBS) ,
Collateral ,
Coronavirus/COVID-19 ,
Counterparties ,
Derivatives ,
EU ,
Financial Markets ,
IOSCO ,
ISDA ,
Margin Requirements ,
Over The Counter Derivatives (OTC)
Overview -
Numerous regulatory developments were enacted or proposed in the United States and the European Union in response to the financial crisis. Although some of the proposed changes are still in the process of being...more
2/24/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Capital Markets ,
Capital Requirements Regulation (CRR) ,
CRA ,
CRD IV Directive ,
Dodd-Frank ,
EU ,
Risk Retention ,
Securitization ,
Securitization Market ,
Securitization Standards
We are delighted to present the Spring 2020 edition of Hogan Lovells’ Debt Capital Markets Global Insights. This draws together a collection of articles from across our global network, reflecting on current events and topical...more
2/24/2020
/ ABS ,
Brazil ,
Capital Markets ,
Capital Requirements Regulation (CRR) ,
Credit Default Swaps ,
Cryptocurrency ,
Debt Market ,
EMIR ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Reform ,
Green Bonds ,
Investment ,
Investors ,
ISDA ,
Libor ,
Luxembourg Stock Exchange ,
Mexico ,
New Legislation ,
Non-Performing Loans (NPL) ,
Noteholders ,
Regulatory Requirements ,
Securitization ,
SFTR ,
SMCR ,
Sterling Overnight Index Average (SONIA) ,
Sterling Risk-Free Reference Rates (SRFRR) ,
UK
On February 15, 2019, the U.S. District Court for the Southern District of New York issued its ruling in the case of Aurelius Capital Master, Ltd. (“Aurelius”) against Windstream Services, LLC (“Windstream”). The origins of...more
International arbitration is increasingly recognized as the preferred dispute resolution mechanism for cross-border derivative transactions. The International Swaps and Derivatives Association, Inc. (ISDA) originally...more
At Hogan Lovells, we follow industry trends very closely and we take great care to listen to our clients and contacts – to understand the issues they face and how the industry is changing. Our Debt Capital Markets – Global...more
6/28/2018
/ ABS ,
Bitcoin ,
Capital Markets ,
Corporate Issuers ,
Cryptocurrency ,
Digital Currency ,
Due Diligence ,
FinTech ,
Green Finance ,
ISDA ,
Libor ,
Mexico ,
Non-Performing Loans (NPL) ,
Regulatory Oversight ,
Regulatory Requirements ,
Securitization ,
Student Loans ,
Virtual Currency
As you may know, on July 27, 2017 the UK's Financial Conduct Authority (FCA) chief executive Andrew Bailey announced that market participants should not rely on the London Interbank Offered Rate (LIBOR) being available after...more
10/10/2017
/ Banking Sector ,
Benchmarks ,
Capital Markets ,
Derivatives ,
Financial Conduct Authority (FCA) ,
Interest Rates ,
ISDA ,
Libor ,
Loan Agreements ,
Loan Market Association ,
Sterling Overnight Index Average (SONIA) ,
Swaps ,
UK