On 2 October 2024, the Central Bank of Ireland ("CBI") updated its Guidance on the Central Credit Register ("CCR") (version 2.6) to commence the reporting obligations in respect of guarantees under the Credit Reporting Act...more
Ein Jahr nach Inkrafttreten der neuen EU-Verbraucherkreditrichtlinie (Richtlinie 2023/2225) im November 2023: Wann kommt die Umsetzung, was wird geregelt und wie sind die Reaktionen der Wirtschaft? Die...more
What’s New? A new European Union (EU) Directive on Credit Servicers and Credit Purchasers (the Directive) requires investors who acquire, manage, or sell non-performing loans (NPLs), issued by EU-authorised credit...more
A common feature included in credit agreements is a limitation on the amount of the unfunded capital commitment of a single investor (or the aggregate unfunded capital commitments of a class of investors) that can be included...more
Credit documentation transfer provisions, which may in the past have been viewed as rather boilerplate, have increasingly become points of contention in the documentation process. Today these provisions are often highly...more
Amending Fund Finance facilities to replace LIBOR as the primary benchmark interest rate has all the makings of a potential client experience disaster for your Fund sponsor clients. This is not just theoretical – we are...more
With the COVID-19 pandemic continuing to adversely impact businesses across the globe, for the past year lenders have been reviewing their portfolios for credit degradation. Credit agreements will often contain a clause in...more
This bulletin provides a timely update on two emerging issues related to LIBOR transition – namely, requirements that administrative agents (including private credit lenders acting in that role on their facilities) may be...more
The FDIC Fall 2019 edition of Supervisory Insights contained an article entitled “Leveraged Lending: Evolution, Growth and Heightened Risk”. In the article, the FDIC noted that the credit agreement terms have continued to...more
The CFPB’s final rule on prepaid accounts, which became effective on April 1, 2019, requires issuers of prepaid accounts, with certain exceptions, to submit to the CFPB all account agreements that the issuer offers, amends,...more