On July 27, 2023, the US banking regulators issued a proposal to significantly revise the risk-based capital requirements applicable to large banks and to banks with significant trading activity. The proposal, which is colloquially referred to as “Basel III Endgame” or “Basel IV,” includes important changes to the calculation of credit risk weights for securitization
Structured Finance
The Private Fund Adviser Rule and the Kirschner Decision: An August Doubleheader
By J. Bradley Keck & Arthur S. Rublin on
The regulatory and judicial developments of the last few days relating to the loan markets and to loan funds have been significant.
On Tuesday, lenders and borrowers were concerned about a world in which syndicated and other loans would be treated as securities. And managers of collateralized loan obligation vehicles (“CLOs”) were concerned about being…
Legal Update: Connecticut and Florida Join the Fray, Enact Commercial Finance Disclosure Laws
Following closely on the heels of a Georgia law enacted in May, Connecticut and Florida have become the latest states to enact laws requiring providers of small business financing to provide disclosures to recipients—and in Connecticut’s case, to require certain commercial finance providers to register with the state. We examine the unique and interesting provisions…
Legal Update: Georgia Enacts Commercial Finance Disclosure Law, Extending Legislative Trend
Providers of commercial financing should take note that Georgia has become the fifth US state to enact small business financing disclosure requirements since California started the trend in 2018. Georgia Senate Bill 90 was signed by Governor Brian Kemp on May 1, 2023, and takes effect January 1, 2024. The Georgia law applies to transactions…