Loan Market Association

What's New

New REF Term Sheet

We have produced a new term sheet for use with the German law real estate finance facility agreement for multiproperty investment transactions, which was launched last November.

In addition, a cross-reference error at clause 8.3(e)(ii) of the German law real estate finance facility agreement for multiproperty investment transactions has been corrected.

LMA REF Insurance Broker Letter and User Guide

The LMA has produced a form of insurance broker letter, intended for use in real estate finance multiproperty investment transactions. The LMA project to develop an insurance broker letter was commenced in response to demand from LMA members active in the real estate finance market, and has been formulated by an experienced working party consisting of a number of banks, non-banks and City law firms, all of whom are active in the real estate finance market. The project has also benefitted from the involvement of the Association of British Insurers and the British Insurance Brokers Association.

Article 55, BRRD: Contractual recognition of bail-in

Video interview with Mark Campbell, Partner at Clifford Chance LLP, on the Article 55, BRRD requirement. The interview includes commentary on the LMA recommended form of bail-in clause and also considers the impact of the PRA announcement of its modification by consent of the contractual recognition of bail-in rules.

LMA publishes recommended form of contractual recognition of bail-in clause

The LMA has published a recommended form of clause for use in loan documentation to the extent required by Article 55 of the EU Bank Recovery and Resolution Directive 2014/59 ("BRRD") relating to contractual recognition of bail-in.

As part of the co-operation between the LMA, LSTA, APLMA and also ICMA, each of their forms of bail-in clause  (in the case of ICMA, the clause set out in the ICMA AAM v1 New York law schedule) refer to a common EU Bail-In Legislation Schedule, which has been prepared by the LMA, in order to describe the relevant national implementation legislation and write-down and conversion powers.  Click here to view the EU Bail-In Legislation Schedule. 

LMA members should click the grey arrow to view the LMA recommended form of clause and users guide.

LMA News H1 2016 (published December 2015)