May 21, 2015
“The new regulation could create a cliff effect for securitizations which do not qualify [for an exemption]. It could discourage investments in CLOs particularly by regulated investors.”
— David Quirolo comments on Bloomberg about the Basel Committee on Banking Supervision’s adoption of tougher capital regulations for securitizations. The Loan Market Association’s position is that collateralized loan obligations should be included in a list of securities that are exempt from the new capital rules.
Pro Bono Report 2019