The European Commission has published a draft Regulation amending Delegated Regulation (EU) 2015/61 on the eligibility conditions for securitisations in the liquidity buffer of credit institutions (the “Draft”)....more
The EU has issued its consultation on Regulatory Technical Standards for open-ended loan-originating AIFs operating under AIFMD II.
As previously flagged, the default position under AIFMD II is that Loan Originating...more
The European Commission has produced the first leg of its long awaited consultation on the function of the EU Securitisation Framework ("ESF") in the form of a paper setting out consultation questions....more
Towards the end of 2023, non-bank financial intermediaries ("NBFIs") accounted for approximately 41% of the EU’s total financial assets, against a figure for banks of 36%. This dominance and growth, together with the...more
I. Background and Scope -
On 7 February 2024, the European Union adopted a final text amending the AIFMD and UCITS directives (AIFMD II). This memo considers what are entirely novel requirements attaching to liquidity...more
3/14/2024
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Alternative Investment Funds ,
Consumer Financial Products ,
EU ,
European Economic Area (EEA) ,
Financial Services Industry ,
Liquidity ,
Liquidity Management ,
Loan Origination Funds ,
Loans ,
UCITS
Alongside work being done internationally on liquidity management by the Financial Stability Board and IOSCO, the UK’s Financial Conduct Authority (“FCA”) has written to the Chief Executives of authorised asset management...more
By way of diversion from the current crisis mode of regulators the world over, here we discuss positive regulatory initiatives on bank liquidity, CDS clearing and the development of Long Term Asset Funds.
UK bank...more