Securitisation market pushes back on key elements of Commission reform
European Parliament rapporteur moots industry-friendly changes to proposals; respondents bristle at definitions of ‘public’ securitisations

CLO lawyers lobby European regulators on investor due diligence proposals
London-based CLO legal teams are lobbying the European Commission on key proposals that might penalise investors

Growth of CLOs could place financial stability at risk – UK House of Lords
The House of Lords, the upper chamber of the UK Parliament, has warned that the rising use of CLOs could represent an as yet unknown risk

US senator slams regulators’ hands-off approach to bank, private credit oversight
In a new letter, Senator Elizabeth Warren accused Scott Bessent, US Secretary of the Treasury and Chair of the Financial Stability Oversight Council, of sabotaging the FSOC’s authorities and pushing deregulation

US regulators walk back post GFC leveraged lending restrictions
The OCC and FDIC now say the guidance was overly restrictive and that banks should rely on general risk management principles to manage their leveraged lending activity

US CLO risk could be mitigated by Trump’s pick for Fed chair - Scaramucci
EXCLUSIVE: Former White House communications director said that the Trump administration is currently looking at US CLO risk

BoE highlights weaknesses in CLO market following First Brands, Tricolor
The central bank will soon begin its stress test of private markets, amid concerns around weaknesses in higher-risk credit solutions

ECB pushback on securitisation reforms sparks concerns from industry
ECB sceptical about key aspects of proposed reforms – it backs operational tweaks, but opposes a prudential overhaul, while the industry is worried this provides ammunition for reform opponents

ECB hits out at proposed securitisation regulation overhaul
The European Central Bank released a paper criticizing parts of the European Commission's proposed changes to its securitization framework

Australian regulator joins chorus voicing private-credit concerns
ASIC has warned of sector failings in Australia’s private-credit market and suggested legal reform

Regulators will see the benefits of private credit – Blackstone
The resilience of private credit will become clear following a review of the sector by UK regulators, says Blackstone’s Daniel Leiter

BoE to update on private credit stress test before Christmas
EXCLUSIVE: An exploratory scenario test for private credit is in the works, following risk warnings from Governor Andrew Bailey

High issuance creating opportunities in CLOs and Australian ABS – Janus Henderson
ABS portfolio manager Ian Bettney finds market tight but sees attractiveness in certain sectors; high issuance keeping spreads on CLOs, Australian ABS, and US non-QM deals attractive

How it took four years to close a loophole — and throw European CLOs into chaos
The fraught relationship between the EU regulator and the growing CLO market again came into focus last month, when the European Banking Authority surprised the market by issuing a response to a question posted four years previously regarding risk retention

Originator “fix” notices soar following risk retention update – Deutsche Bank
Deutsche Bank reports a surge in “fix” notices following 8 August EBA risk retention update

Proposed changes to Solvency II capital charges “remain significantly more conservative” than other jurisdictions – AFME
The Association for Financial Markets in Europe argues that a more “risk-sensitive” framework has the potential to unlock up to EUR 210bn in additional financing for the EU economy

European regulators set to meet for risk retention discussion in coming weeks
EXCLUSIVE: 27 EU regulators to discuss penalties for non-compliance with risk retention requirements as market adjusts to new rule

CLO lawyers see European CLO risk retention clarification as 'headache, not a migraine'
After an initial reaction of concern about how this may impact sentiment in the growing European CLO market, lawyers have now become more sanguine about the updated regulation, with fixes already being implemented by affected managers

Over half of European CLOs may have lost risk retention compliance following EBA clarification – Dealscribe
Over 85% of manager-originator European CLOs include conditional sale agreements to transfer credit risk from the CLO to the originator, according to research published by Dealscribe

Executive order leaves questions around CLO adoption in 401(k)s
EXCLUSIVE: Experts are uncertain whether the new executive order from US President Donald Trump will lead to increased inflows for CLOs

New headaches for European CLO market as regulators clarify risk retention guidance
The European Commission has overturned widespread market practice regarding conditional sale agreements, with a newly-issued legislative interpretation of the ‘originator’ definition under the EU Securitisation Regulation

Private credit inflows face uphill battle even as 401(k) doors open
Although US President Trump’s executive order opens defined contribution retirement plans like 401(k)s to private credit investments, a sudden and meaningful rise in inflows is unlikely 

Presidential order opens private credit access to US retirement investors
US President Donald Trump signed an executive order to repeal a regulation that forbids certain US retirement accounts like 401(k)s from adding alternative assets such as private debt

AFME calls for investor-friendly adjustments to EC securitisation reforms
AFME while welcoming the new European regulatory reform proposals has called for further changes

EC securitisation proposals “a big step in the right direction”
The new European Commission proposals for the securitisation market are “a big step in the right direction” and may attract more investors