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Collateralized Fund Obligations (CFOs): The Technicolor Dreamcoat of Fund Finance

USA - September 14 2022 Over the past several years as Collateralized Loan Obligations ("CLOs") reached new and dizzying heights in issuance volume, CFOs have been quietly…

Eric Zeng, David E. Miller, Elliott M. Kieffer, Jonathan Burke, Christopher P. Duerden, John M. Timperio, Lindsay Trapp

The TALF CLO Trilogy Concludes: Too Little, Too Late

USA - June 17 2020 The Fed throws a bone to the CLO market by reducing the non-call period from three years to one year, but this small victory will likely have little…

Christopher Desmond, Christopher P. Duerden, John M. Timperio

TALF CLO Update: The Fed Puts More Devil in its Details

USA - May 28 2020 The Fed releases more specifics and a start date for its Term Asset Backed Loan Facility (TALF) program, but overall the picture which emerges makes…

Christopher Desmond, Christopher P. Duerden, John M. Timperio

CLOs and Term Asset-Backed Securities Loan Facility (TALF)—We’re Not That Desperate (Yet)

USA - May 12 2020 As revised, TALF may provide a safety net in the event of catastrophic CLO market conditions but is not likely to meet the goal of reviving the…

Christopher Desmond, Christopher P. Duerden, Erica Evans, David Griffin, John M. Timperio

Japanese Risk Retention: JFSA Favors Diligence Over Disruption

Japan - March 26 2019 On March 15, 2019, the Japanese Financial Services Agency (the “JFSA”) published final rules and FAQs responding To comments on proposed changes in…

Christopher Desmond, Christopher P. Duerden, Matthew Gauthier, Kelly Nash, John M. Timperio, Cynthia J. Williams