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Summer Assignment
August 3, 2023

It’s fair to say that last Thursday’s “Basel III endgame” proposal by the U.S. banking regulators probably ruined a lot of summer vacations, with its 1,000-page reading assignment.

As we all know, this is a major development, and it is putting banks and their advisors – including law firms like ours – to work this summer to assess the new proposal and to advise on next steps. As my colleagues Jed Miller, Ivan Loncar and I note in our lead article this week, our phones have been ringing and our email accounts have been very active, as we have been reaching out to our banking clients and responding to incoming inquiries.

We hope you’ll read our article focused on the securitizations and risk transfer implications in the proposal and, remember, we’re definitely here to help. You can reach out to us here.

Daniel Meade 
Partner and Editor, Cabinet News and Views

Profile photo of contributor Jed Miller
Partner | Financial Services
Profile photo of contributor Daniel Meade
Partner | Financial Regulation
Profile photo of contributor Ivan Loncar
Partner | Financial Services

On July 27, 2023, the U.S. federal prudential bank regulators (the Federal Deposit Insurance Corporation, the Federal Reserve Board and the Office of the Comptroller of the Currency) proposed new capital requirements for large banking organizations. The FRB also proposed to make certain adjustments to the G-SIB surcharge. Over the last week, we’ve received a number of inquiries from banks and buy-side clients about this proposal – in particular, about its effect on banks’ risk-based capital, including for fund finance transactions, and capital optimization strategies, such as capital relief trades and synthetic securitizations.

Read More »

Profile photo of contributor Alix Prentice
Partner | Financial Regulation
Profile photo of contributor Assia Damianova
Special Counsel | Capital Markets

This Clients & Friends Memo considers the rules proposed by the UK’s Prudential Regulation Authority to replace retained EU law and technical standards governing securitisations. Our analysis also covers the rules’ changes to risk retention and disclosure technical standards, and notes contrasts with the recently published final form EU technical standards.

You may access the Memo here.

Maurine R. Bartlett
Senior Counsel
T. +1 212 504 6218
maurine.bartlett@cwt.com

Sukhvir Basran
Partner
T. +44 0 20 7170 8620
sukhvir.basran@cwt.com

Brian Foster
Partner
T. +1 212 504 6736
brian.foster@cwt.com

James Frazier
Partner
T. +1 212 504 6963
james.frazier@cwt.com

Mark Howe
Partner
T. +1 202 862 2236
mark.howe@cwt.com

Gregg Jubin
Partner
T. +1 202 862 2485
gregg.jubin@cwt.com

Philip S. Khinda
Partner
T. +1 202 862 2262
philip.khinda@cwt.com

Ivan Loncar
Partner
T. +1 212 504 6339
ivan.loncar@cwt.com

Peter Y. Malyshev
Partner
T. +1 202 862 2474
peter.malyshev@cwt.com

Jed Miller
Partner
T. +1 212 504 6821
jed.miller@cwt.com

Michael Newell
Partner
T. +44 0 20 7170 8540
michael.newell@cwt.com

Alix Prentice
Partner
T. +44 0 20 7170 8710
alix.prentice@cwt.com

Rachel Rodman
Partner
T. +1 202 862 2210
rachel.rodman@cwt.com

Richard M. Schetman
Senior Counsel
T. +1 212 504 6906
richard.schetman@cwt.com

Lary Stromfeld
Partner
T. +1 212 504 6291
lary.stromfeld@cwt.com

Jonathan M. Wainwright
Senior Counsel
T. +1 212 504 6122
jonathan.wainwright@cwt.com

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