The US Loan Syndications and Trading Association has hailed a ruling by the Court of Appeals for the District of Columbia Circuit to exempt Collateralised Loan Obligation (CLO) funds from risk-retention regulations. The rule forces managers to hold some of the risk of the securities they sell. The decision is a boost for smaller managers who struggled to find the capital to cover the retention. It's been argued CLOs, a $501bn asset class, have been unfairly blamed for the 2008 financial crisis. A new report on the impact of climate change in Australia shows that while there are many reasons why people move away from cities, one factor stands out: heat.
The US Loan Syndications and Trading Association has hailed a ruling by the Court of Appeals for the District of Columbia Circuit to exempt Collateralised Loan Obligation (CLO) funds from risk-retention regulations. The rule forces managers to hold some of the risk of the securities they sell. The decision is a boost for smaller managers who struggled to find the capital to cover the retention. It's been argued CLOs, a $501bn asset class, have been unfairly blamed for the 2008 financial crisis. The Federal Reserve is reviewing the court's decision.