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Avoiding Collateral Damage: Taking the (Re)Pledge [Part III]

This constitutes the third in a four-part series that discusses the practice of repledging (sometimes referred to as “rehypothecation”), how standard agreements allow for repledging, the treatment of repledging under current...more

The End of LIBOR: Hotel California Edition (Part I)

Although July 3 was the first business day on which no USD LIBOR was published, many financial instruments will not reset until the next reset date, based upon the tenor of each instruments’ underlying benchmark, which could...more

Avoiding Collateral Damage: Whose Pledged Assets are They Anyways?

The practice of repledging (sometimes referred to as “rehypothecation”) is utilized in, among others, loan, swap, and brokerage transactions. In connection with troubled financing institutions, it may be a classic example of...more

Potential Approaching Storm in Commercial Real Estate: Recent Updating of Great Recession Guidance

Nearly 14 years ago, guidance was provided by federal regulators to facilitate commercial real estate loan work-outs. Rather than ‘extend & pretend,’ regulators had encouraged, and are encouraging, banks to work with...more

ISDA 2020 IBOR Fallbacks Protocol

The focus of regulators in the United States and the United Kingdom had been to correctly transition away from LIBOR due to past bank manipulations. After nearly two (2) years in the making, the International Swaps and...more

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