Securitization, and structured finance generally, is a critical capital-raising tool for many companies. Utilizing one or more bankruptcy-remote special purpose entities to legally isolate the credit risk of quality,...more
9/28/2022
/ Bankruptcy Code ,
Bankruptcy Court ,
Capital Raising ,
Contingency Plans ,
Credit Enhancements ,
Distressed Assets ,
Fixed Income Investments ,
Investors ,
Risk Management ,
Securitization ,
SPVs ,
Structured Finance ,
Waterfall Provision
The Alternative Reference Rates Committee (“ARRC”) convened by the Federal Reserve Board and the Federal Reserve Bank of New York, with the assistance of its Securitizations Working Group released a report (the “Report”) on...more
The federal regulatory agencies charged with deriving and maintaining regulatory provisions pursuant to section 13 of the Bank Holding Company Act (commonly referred to as the Volcker Rule) have revised the “covered fund”...more
7/9/2020
/ Amended Regulation ,
Bank Holding Company Act ,
Covered Funds ,
Covered Transactions ,
Debt Securities ,
Investment Funds ,
Ownership Interest ,
Proprietary Trading ,
Small Business Investment Company ,
Volcker Rule ,
Waterfall Provision
With most businesses mandating working from home, transaction closings will confront the practical challenge of execution and delivery of documents.
Electronic signature of documents presents a convenient and safe...more
Since December 2019, the rapid spread of COVID-19 has caused significant global upheaval. While many questions circulate unanswered, and while a variety of global initiatives to stem the spread of the virus are implemented...more
3/11/2020
/ Coronavirus/COVID-19 ,
Corporate Financing ,
Financial Services Industry ,
Force Majeure Clause ,
Foreign Commerce ,
Imports ,
Infectious Diseases ,
Performance Standards ,
Public Health ,
Suppliers ,
Supply Chain ,
Supply Contracts
The federal agencies responsible for the Volcker Rule have proposed to clarify some requirements for exclusion from the definition of “covered fund” and to increase the types of funds excluded from that definition. The...more
2/11/2020
/ Bank Holding Company Act ,
CFTC ,
Covered Funds ,
Dodd-Frank ,
FDIC ,
Federal Reserve ,
Financial Regulatory Reform ,
Investment Companies ,
Ownership Interest ,
Proprietary Trading ,
Regulatory Agenda ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securitization ,
Venture Capital ,
Volcker Rule ,
Wealth Management
The five agencies that adopted and administer the Volcker Rule have proposed to revise it. Interestingly, however, the proposed revisions make up a surprisingly small part of the release, much of which consists of questions...more
A synthetic lease is a financing technique structured to be an operating lease for the lessee’s financial accounting purposes and a financing for U.S. federal tax purposes. Synthetic leases are most often used in acquisition...more
The credit markets continue to be subject to significant regulatory change. Recently, two steps have been taken that are intended to increase the ability of certain types of creditors to expand the availability of credit....more
The “Risk Retention Rule” has been in effect for a little over two years for asset-backed securities (“ABS”) collateralized by residential mortgages, and for over one year for all other classes of ABS. While a general market...more
The U.K. Financial Conduct Authority (the “FCA”) announced on July 27, 2017 that it expects to eliminate the London Interbank Offered Rate (commonly known as “LIBOR”) as a benchmark rate by 2021. No hard deadline has been...more
Introduction -
17 C.F.R. Part 246, adopted jointly by the United States Securities and Exchange Commission (the “SEC”) and other federal agencies in October of 2014 (the “U.S. Risk Retention Rule”) was adopted in response...more