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EU Securitisation Regulation—timeline

EU Securitisation Regulation—timeline This timeline shows key developments relating to Regulation (EU) 2017/2402 (the EU Securitisation Regulation) from January 2024 onwards. For earlier developments, see EU and UK Securitisation Regulations—timeline [Archived]. 2025 Date Source Document Description 1 April 2025 AFME The Joint Associations’ response to the ESMA consultation of February 2025 on the revision of the disclosure framework for private securitisation AFME, Commercial Real Estate Finance Council (CREFC) Europe and International Capital Market Association (ICMA) submitted a joint response to the European Securities and Markets Authority's (ESMA) consultation on revising private securitisation disclosure requirements. The joint response argues against: introducing a simplified reporting regime for EU-originated securitisations before wider reforms, citing concerns about potential changes to private securitisation definitions, continued template-based reporting requirements, and unresolved third-country reporting issues. They propose an alternative approach focusing on supervisory reporting needs while allowing more flexible investor disclosures.See: LNB News 01/04/2025 71. 31 March 2025 EBA Joint Committee Report on the implementation and functioning of the Securitisation Regulation (Article 44) The Joint Committee...

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The Loan Market Association

Aims of the Loan Market AssociationThe Loan Market Association (LMA) was established in 1996 as a trade body with a key objective of improving liquidity, efficiency and transparency in the primary and secondary syndicated loan markets in Europe, the Middle East and Africa (EMEA). For further details, see: LMA website.The LMA aims to establish sound, widely accepted market practice to promote the syndicated loan as one of the key debt products available to borrowers across the region. Syndicated loans are provided by a group of lenders as opposed to bilateral loans, which are traditionally between the corporate debtor and a single bank.The LMA works with lenders, law firms, borrowers and regulators to educate the market about the benefits of the syndicated loan product, and to remove barriers to entry for new participants.Members of the LMA include: commercial and investment banks, institutional investors, law firms, service providers and rating agencies. The work of the LMA includes:•creating industry standard documentation•lobbying regulators and government bodies to ensure that any new or revised regulation does not...

Green loans

Green loans This Practice Note provides information on green loans and key issues to consider when drafting a green loan agreement. It focuses on the Green Loan Principles (GLP) published by the Loan Market Association (LMA), the Asia Pacific Loan Market Association (APLMA) and the Loan Syndications and Trading Association (LSTA). The Practice Note: • explains what is meant by a green loan • provides an introduction to the GLP and the related guidance (GLP guidance) • explains what the four components are of a green loan, as set out in the GLP, and summarises its guidance on these four components • summarises guidance contained in the GLP and GLP guidance around what can constitute a green loan, reviews and greenwashing, and • provides information on finding precedent wording, including information on the Loan Market Association draft provisions, and drafting tips What is meant by a green loan? Green loans are described in the GLP as: ‘…Green loans are any type of loan instruments and/or contingent facilities...

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Commitment letter for primary syndication: initial commitment—subject to approval of documentation

Commitment letter for primary syndication: initial commitment—subject to approval of documentation [On headed notepaper of a potential syndicate member] To: [insert the full name and address of the arranger] [insert date] Dear [insert full name of arranger] 1 Facility for [insert currency] [insert amount] for [insert name of borrower] (the Borrower), arranged by [insert name of Arranger] (the arranger) with [insert name of agent] as agent (the Agent). 2 We, [insert name of the possible syndicate member], subject to documentation satisfactory to us, commit [insert currency] [insert amount] [[insert tranche if appropriate]] to the Facility, (the Commitment). 3 The Commitment will expire on [insert date and time]. 4 This Commitment is subject to delivery by the Arranger to us of a full copy of the latest draft [Facility OR Facilities] agreement[s] relating to the Facility within [insert number] days of this letter. 5 The [upfront fee OR original issue discount] on the Commitment is [insert amount of the upfront fee or discount] which is...

Commitment letter for primary syndication: final commitment—with approval of documentation

Commitment letter for primary syndication: final commitment—with approval of documentation [On headed notepaper of a potential syndicate member] To: [insert the full name and address of the arranger] [insert date] Dear [insert the full name of arranger] 1 Facility for [insert currency] [insert amount] for [insert name of borrower] (the Borrower) by [insert name of Arranger] (the Arranger) with [insert name of Agent, as agent] (the Agent). 2 We, [insert name of the possible syndicate member] commit [insert currency] [insert amount] [[insert tranche if appropriate]] to the Facility, (the Commitment). 3 The Commitment will expire on [insert date and time]. 4 The [upfront fee OR original issue discount] on the Commitment is [insert amount of the upfront fee or discount] which is payable on [insert date]. 5 This letter states our total obligation in relation to our Commitment to the Facility until we enter the relevant [Facility OR Facilities] agreement[s] [, subject to any confidentiality letter or front running letter entered into by us in relation to...

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Banking and Finance weekly highlights—1 May 2025

This week's edition of Banking and Finance weekly highlights includes: (1) our Sustainable finance and ESG monthly round-up; (2) FMSB publishes Statement of Good Practice on governance of sustainability-linked products; and (3) ISDA publishes April 2025 Benchmark Module for the Fallbacks Protocol.

Environment weekly highlights—1 May 2025

This week's edition of Environment weekly highlights includes: news analysis on the application of the Digital Markets, Competition and Consumers Act 2024 on businesses making false or misleading environmental claims, and the case of R (on the application of Dr Rosalind Bradbury) v Brecon Beacons National Park Authority, relating to appropriate assessments and the planning committee’s failure to consider relevant information, and commentary on the Water (Special Measures) Act 2025 policy statement. Also, the International Maritime Organization (IMO) has approved draft regulations establishing the first combined mandatory emissions limits and greenhouse gas pricing framework for global shipping, the Department for Energy Security and Net Zero (DESNZ) has published publication of its response to the Smart Secure Electricity Systems Programme consultation, consultations on implementing voluntary carbon and nature market integrity principles and revenue support regulations for greenhouse gas removals and power bioenergy with carbon capture and storage business models. In addition, the Department for Environment, Food and Rural Affairs (Defra) published its first statutory international environmental protection report, HMRC launched a...