Searching Content indexed under Financial Services by Christopher Auguste ordered by Published Date Descending.
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SEC Issues Statement On LIBOR Transition
On July 12, the staffs of the Division of Corporation Finance, Division of Investment Management, Division of Trading and Markets, and Office of the Chief Accountant of the Securities and Exchange Commission issued a statement.
United States
22 Jul 2019
New Provisions Included In Credit Agreement To Sanitize The Vote Of Net Short Lenders
In response to the increasingly aggressive activism by holders of net short positions that are in debt by way of credit default swaps, the leveraged loan market has responded ...
United States
6 Jun 2019
Federal Reserve Board Chairman Powell Finds That Leveraged Lending Presents No Notable Risks To Financial Stability
Federal Reserve Board of Governors Chairman Jerome H. Powell, in remarks made yesterday in Amelia Island, Florida, at the 24th Annual Financial Markets Conference ...
United States
5 Jun 2019
Fed Concludes That Banks Have Improved Management Of Leveraged Lending Risks Even As Noninvestment-Grade Debt Has Grown
On May 6, 2019, the Board of Governors of the Federal Reserve System (the Board) published its annual Financial Stability Report.
United States
23 May 2019
IMF Finds Leveraged Lending An Area Of Concern, But Risks Are Mitigated
On April 10, 2019, the International Monetary Fund (IMF) held a press conference to discuss its semiannual Global Financial Stability Report (the GFSR)
United States
9 May 2019
Requesting Confidential Treatment: SEC Issues Guidance Streamlining The Procedure For Filing Redacted Exhibits
On March 20, 2019, the Securities and Exchange Commission (SEC) adopted a series of amendments which seek to simplify the disclosure requirements for some U.S. public companies.
United States
7 May 2019
Ranking Member Of Senate Finance Committee Demands FSOC Address Risk In Leveraged Loan Market
In an April 11 letter to Treasury Secretary Mnuchin, in his capacity as chair of the Financial Stability Oversight Council (FSOC), U.S. Sen. Sherrod Brown (D-Ohio), the ranking member of the U.S.
United States
30 Apr 2019
Federal Reserve Chairman Powell Testifies That Leveraged Lending Does Not Pose A Systemic Risk To Banks
On Feb. 27, 2019, Federal Reserve Chairman Jerome Powell, during testimony before the House Financial Services Committee, was asked by Representative Gregory Meeks
United States
11 Mar 2019
FSB To Consider Enhanced Reporting Requirements For Non-Bank Providers Of Leveraged Loans
The FSB, an international body established in 2009 to implement and promote effective regulatory, supervisory and other financial sector policies, issued its most recent annual Global Monitoring Report on...
United States
14 Feb 2019
Agencies Formally Confirm Lessened Consequences For Noncompliance With Leveraged Lending Guidance
On Sept. 11, 2018, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corp.,
United States
17 Sep 2018
The New Delaware LLC "Divisive Merger" Provision – A Potentially Dangerous Loophole Under Debt Covenants
Effective August 1, 2018, the Delaware Limited Liability Company Act (the Delaware LLC Act) allows a Delaware limited liability company (an LLC) ...
United States
29 Aug 2018
SEC Approves NYSE Rule Changes On Listing Without An IPO
The Securities and Exchange Commission (SEC) has approved a proposal by the New York Stock Exchange (NYSE) to facilitate listing on the NYSE without a prior underwritten public offering.
United States
23 Feb 2018
Second Circuit Overturns Southern District In Marblegate
On Jan. 17, the U.S. Court of Appeals for the Second Circuit vacated the decision of the District Court for the Southern District of New York in Marblegate Asset Management, LLC v. Education Management Finance Corp., finding that Section 316(b) of the Trust Indenture Act (TIA) "prohibits only non-consensual amendments to an indenture's core payment terms."
United States
1 Feb 2017
Proposed Brokaw Act Would Affect Change-Of-Control Triggers In Indentures
Change-of-control provisions in high-yield indentures typically define beneficial ownership by reference to Rule 13d-3, promulgated under Section 13(d) of the Securities Exchange Act of 1934 (the "Exchange Act").
United States
26 Sep 2016
SDNY Rules That An Exchange Offer Is Not A "Financing" For Purpose Of Indenture Debt Covenant
A recent case out of the Southern District of NY calls into question a view widely held among leveraged finance professionals regarding the interpretation of the terms financing and refinancing...
United States
17 Aug 2016
Elimination Of LIBOR-Based Loans May Come Sooner Than Many Expect
On May 20, 2016, the New York Federal Reserve Bank's Alternative Reference Rate Committee released an interim report announcing its preliminary recommendations on a replacement for LIBOR...
United States
7 Jul 2016
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