The European Union’s new Capital Requirements Directive 6 (CRD6) introduces significant regulatory changes for non-EU banks operating within EU Member States. This update explores the impact of CRD6 on US...
Because banks receive favorable capital treatment when a credit facility’s tenor is shorter than one year, lenders increasingly offer financing with 364-day tenors and uncommitted extension option terms of up...
On December 27, 2023, the US federal banking regulators proposed reporting requirements for bank loans and commitments to the fund finance sector.1 This change reflects not only the rapid growth in...
Two new bills have been passed in California as part of a “Climate Accountability Package” that require US-based companies “doing business”1 in California to make disclosures about their emissions and climate-related...
Subscription facility lenders are rightfully interested in ensuring that capital commitments of foreign sovereign limited partners are enforceable, despite any available claim to sovereign immunity. A recent district court’s decision in Jones...
The authors first describe the origin and structure of the global LEI system. They then turn to topics pertinent to compliance: (1) disseminating LEIs within the organization; (2) maintaining current...
On September 9, 2022, the US federal banking regulators announced their intent to revise US regulatory capital requirements to align them with the regulatory capital standards that were finalized by...
The new Futures and Derivatives Law (中华人民共和国期货和衍生品法) (FDL) in China took effect on 1 August, 2022, for the first time recognising enforceability of close-out netting in the PRC’s futures and...
Documentation and terms in the fund finance markets have evolved differently in the United States, Europe and Asia based on various factors particular to each market, with each market having its own strengths, innovation and trends.
A limited partner (“Investor”) in a private equity fund (“Fund”) will often enter into a letter agreement (“Side Letter”) with the Fund that modifies the terms of the Fund’s limited...