On April 28, 2025, the District Court for the District of Delaware granted a joint motion to dismiss with prejudice a lawsuit brought by the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) against the National...more
The FCA issued a consultation paper on 7 May 2025 seeking feedback on regulatory proposals to simplify advice rules and affordability assessments for mortgages, making it easier, faster and cheaper for consumers to make...more
Microgeneration has always been a cornerstone of the German energy supply, due to its diversified production and manufacturing industry, which is spread out over the country....more
Proposals for securitisation reform are on the horizon in the EU and the UK. A significant package of reforms could facilitate meaningful change and allow the securitisation market to meet its full potential. Reform also...more
Mr. Pulte is now the great poohbah of Fannie and Freddie supervising the Twins from his seat at FHFA and also now acting as chair of their respective boards. What is he going to do (assuming he has any agency here)?...more
Background Article 44 of the EU’s Securitisation Regulation (“SECR”) requires the Joint Committee of the European Supervisory Authorities (“ESAs”) to produce a report every three years on: (a) the implementation of...more
The ESMA Consultation comes at an interesting time when the possibility of streamlining template reporting is being considered as part of the wider review of the European Securitisation Regulation (EUSR) and as considered...more
On April 2, the U.S. District Court for the Northern District of Texas granted defendant Ginnie Mae’s motion for summary judgment in a dispute concerning Ginnie Mae’s Home Equity Conversion Mortgage (HECM) mortgage-backed...more
The Joint Committee of the European Supervisory Authorities published a report on the implementation and functioning of the EU Securitisation Regulation on 31 March 2025. The purpose of the report is to assess the extent to...more
EXECUTIVE SUMMARY - There is a spectrum of potential financing structures for a private credit fund (a “Credit Fund”) to obtain liquidity, including at various levels in the fund structure, such as at the fund level or by...more
Welcome to the Regulation Round Up, a regular bulletin highlighting the latest developments in UK and EU financial services regulation....more
The European Securities and Markets Authority (ESMA) has published its peer review report on national competent authorities' (NCAs) supervision of simple, transparent and standardised (STS) securitisations. The report looks...more
The European Union's securitisation market has struggled to reach its full potential despite the introduction of the Securitisation Regulation (SECR) in 2019. While the market has shown modest growth in recent years,...more
Please join Mayer Brown partners Frank Doorley, Patrick Healy, Janice Kong, and Tameem Zainulbhai for a discussion on What to Expect in 2025 in the fields of structured finance and securitization. They will examine some key...more
Securitisation of subscription finance facilities is en vogue in fund finance. We have written previously on this topic, offering a primer on capital call securitisations and a Q&A regarding a first publicly rated cash...more
The Basel Committee on Banking Supervision (BCBS) has published a press release providing an update on its workstreams. The BCBS states that it will publish by mid-2025 an update on the outcome of its work to prepare a suite...more
Following the start of development work on an accelerated procedure for the regulatory recognition of significant risk transfer ("SRT") securitisations last year, the European Central Bank ("ECB") published guidance addressed...more
AT A GLANCE - The rise of the direct lending market has led to a dramatic rise in supporting liquidity strategies to optimize the market. These strategies include the use of financings to provide market participants with...more
The 2025 Fund Finance conference in Miami convened industry leaders, innovators, and experts to explore the latest trends and challenges in the rapidly evolving world of fund finance. Set against the backdrop of Miami's...more
The European Securities and Markets Authority (ESMA) issued a Consultation Paper on 13 February 2025 presenting a proposal for a simplified disclosure template for private securitisations. ESMA’s stated aim is to reduce...more
Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features a close look at business development companies, an introduction to project...more
A bank sought payment under “deeds of indemnity” related to swap agreements which were part of a number of Dutch mortgage-backed securitisations. The mortgage provider refused to pay, a key argument being that the “deeds...more
Special purpose vehicles (SPVs) are commonly employed as a structuring tool in many cross-border and structured finance transactions, and collateralised loan obligation (CLO) transactions are no exception. The Cayman Islands...more
ESMA has launched a Consultation on a draft simplified disclosure template for "European private securitisations". The stated objective of the Consultation is to streamline disclosure templates for private...more
A recent High Court judgment in a case where NatWest won a claim against CMIS arising under derivative transactions raises several issues of law with practical implications for the structuring of complex finance deals....more