Brexit and LMA Documentation Update
The LMA is aware of the publication of the UK's legislation which is intended to "onshore" EU law with effect from 29 March in the event that the UK leaves the EU without an agreed transition period. As is the case with any potential change in legislation, the LMA is not planning to make any changes to its English law documentation before any proposed change in English law actually takes effect.
The LMA is in the process of considering appropriate changes to be made to the relevant legislative references in its documentation in the event that the UK's onshoring legislation becomes effective on 29 March. If the UK's onshoring legislation becomes effective on 29 March, the LMA's intention is to publish a table of those suggested changes on or about that date so as to release them to members as soon as possible. Those changes will then be incorporated into its documentation suite over the following weeks.
Working group on euro risk-free rates seeks market feedback on transition from EONIA to ESTER and ESTER-based term structure methodologies
The working group on euro risk-free rates has published a report on the transition from the euro overnight index average ('EONIA') to the euro short-term rate ('ESTER') and a second public consultation on determining an ESTER-based term structure methodology as a fallback in EURIBOR-linked contracts.
Both papers seek feedback from market participants and other stakeholders by 17:00 Central European Time on 1 February 2019.
Recent LMA Submissions
LMA responds to the second public consultation on determining an ESTER-based term structure methodology as a fallback in EURIBOR-linked contracts
LMA responds to ESMA on the technical standards on disclosure requirements under Securitisation Regulation
LMA responds to PRA Consultation Papers CP25/18 and CP26/18
LMA responds to FCA Consultation Paper 18/36 - Brexit: Proposed changes to the Handbook and Binding Technical Standards - second consultation
Recent LMA Documentation
New version of the LMA's German Law Multicurrency Term and Revolving Facility Agreement
Guidance note: United States and European Union sanctions
LMA announces publication of new Schuldschein Loan Agreements and User Guide
We have published a paper which seeks to emphasise the number of regulatory issues which could arise in a lending context as a result of a "no deal" scenario, and the negative repercussions that this would create for the wider EU economy.
Update to Green Loan Principles (GLP)
The LMA, together with the APLMA and LSTA, has
published an extended iteration of the Green Loan Principles (GLP), providing a
more in-depth explanation as to how the GLP can be applied to revolving credit
facilities whilst maintaining the integrity of the green loan product.
Updated Data Protection Privacy Notice (22 January 2019)
We have updated our Data Protection Privacy Notice on 22 January 2019. The only changes are to the list of service providers used by the LMA. 3si (who provide our membership database) have changed their name to Eudonet UK and Campaign Monitor has been removed as this service is no longer used by the LMA. The return and destruction of personal data by Campaign Monitor will be dealt with in accordance with the GDPR. Click here to view the updated notice.
