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United Kingdom Financial Institutions Loans

Mayer Brown

Sub-participation or loan?

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The Court of Appeal recently handed down judgment in Yieldpoint Stable Value Fund, LP v Kimura Commodity Trade Finance Fund Limited [2024] EWCA Civ 639, on Kimura's appeal from the High Court's decision that a participation...more

Alston & Bird

Structured Finance Spectrum - Summer 2024

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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 the new UK securitization regime, eHELOCs, and climate risk disclosures....more

A&O Shearman

An interest-ing question: when is a default interest rate a penalty?

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The Court of Appeal has affirmed a three-step test for penalty clauses: (1) is it a secondary obligation; (2) does the clause protect a legitimate interest; and (3) is it extortionate by reference to the legitimate interest?...more

Cadwalader, Wickersham & Taft LLP

The UK’s Financial Conduct Authority Discusses Gaps in Firms' Surveillance for Market Abuse

The UK’s Financial Conduct Authority (FCA) has reported its observations on firms’ market abuse surveillance arrangements in the May edition of Market Watch. The newsletter looks at a peer review of surveillance model testing...more

Cadwalader, Wickersham & Taft LLP

A LIBOR Commencement Speech

The London Interbank Offered Rate (LIBOR) will stop being published on the basis of panel bank quotes and will be replaced by alternative replacement rates after June 30, 2023. In the spirit of the season, below is the...more

White & Case LLP

NPL market dynamics are changing, possibly for good

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What does the future hold for NPLs? There's still plenty of business to be done, but buyers and sellers alike will need to change tack to get the most from the available opportunities....more

Hogan Lovells

Payments regulatory news, April 2021 # 2

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Omnibus accounts for payment systems operators and prefunding accounts: BoE update - The Bank of England (BoE) has updated its webpage on payment and settlement to add the following new sections to the information provided in...more

Katten Muchin Rosenman LLP

2021 PRIVATE CREDIT SURVEY REPORT - Despite Private Credit’s Sunny Outlook, Questions Emerge About Lender/Investor Congeniality,...

In February, Katten conducted a survey of 112 private credit industry professionals that showed how a large percentage of private equity investors and lenders in the private credit industry expect deal flow to increase in...more

Alston & Bird

Discontinuing GBR LIBOR: The Time to Act Is Now

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Our Finance Group explains why the transition from the London Interbank Offered Rate remains an essential task amid COVID-19 and urges loan market participants not to wait on devising a transition plan. ...more

White & Case LLP

Regulators determined to keep SOFR transition on track

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The disruption to capital markets caused by the COVID-19 pandemic has not shifted the overall timeline of regulators and industry bodies for the replacement of US dollar LIBOR with SOFR by the end of 2021. With the expected...more

White & Case LLP

NYDFS Requires LIBOR Transition Plans by Early February

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On December 23, 2019, the New York Department of Financial Services (NYDFS) issued an Industry Letter instructing each institution it regulates, including banks and licensed Fintechs, to make submissions describing the...more

White & Case LLP

LIBOR and the transition to SONIA: compounding the problem?

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In 2012, the Wheatley Review recommended reform rather than replacement of LIBOR, on the basis that a transition to a new benchmark would pose an unacceptably high risk of financial instability. Reform came in the form of a...more

Troutman Pepper

The 'End' of LIBOR: Considerations for Market Participants

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LIBOR has been referred to as “the world’s most important number,” and $350 trillion in financial products pegged to LIBOR provide strong reason for believing that description to be true. LIBOR, the London Interbank Offered...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Judge John Bates of the US District Court for DC has blocked a proposed $37 billion mega-health-care-merger between Aetna and Humana, one of 2 major deals before the courts opposed by the Obama-era DOJ over antitrust...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 9.14.16

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Following news of Starboard Value’s plan to shake things up at Perrigo, we have this take from Breakingviews, which suggests that fending off a hostile takeover (as Perrigo did from Mylan) tends to “make fertile turf for an...more

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