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SEC Shortens Settlement Cycle to T 2
  • Kramer Levin Naftalis & Frankel LLP
  • USA
  • March 23 2017

On March 22, the Securities and Exchange Commission (the "SEC") adopted an amendment to Rule 15c6-1 under the Securities Exchange Act of 1934, as


The SEC Proposes to Shorten the Settlement Cycle for Most Securities Transactions from Three Business Days to Two Business Days
  • Baker & Hostetler LLP
  • USA
  • October 11 2016

The Securities and Exchange Commission has proposed to amend Rule 15c6-1 under the Securities Exchange Act of 1934 in order to shorten the standard


Draft covered bonds bill released for public consultation
  • Clayton Utz
  • Australia
  • March 25 2011

Yesterday, the Australian Federal Government released its much anticipated exposure draft of the Banking Amendment (Covered Bonds) Bill 2011.


The green bank that can't borrow
  • Gowling WLG
  • United Kingdom
  • March 24 2011

Despite the pledge that this would be the "greenest government ever", the Chancellor's 2011 Budget announcement for the Green Investment Bank (GIB) may disappoint both investment institutions and green campaigners alike.


APRA guidance on liquidity coverage ratio: what does it mean for the bond market?
  • Clayton Utz
  • Australia
  • March 1 2011

Yesterday the Australian Prudential Regulatory Authority (APRA) issued a media release which seeks to clarify the types of high-quality liquid assets that Australian ADIs will be able to count towards their Liquidity Coverage Ratio (LCR) under APRA's implementation of Basel III's new global liquidity standards.


Modification of mortgage loansnew REIT safe harbor
  • Morrison & Foerster LLP
  • USA
  • January 18 2011

Acknowledging that the widespread decline in real estate values could adversely affect the ability of a REIT to maintain its status for federal income tax purposes, the IRS issued Revenue Procedure 2011-16 (the “Rev. Proc.”) on January 5, 2011 to provide REITs with relief from potential violations of the REIT qualification requirements that are due to certain modifications of mortgage loans.


New REIT safe harbor with respect to certain modifications of troubled mortgage loans
  • Morrison & Foerster LLP
  • USA
  • January 6 2011

Recognizing that the widespread decline in real estate values could adversely affect the ability of a real estate investment trust ("REIT") to maintain its status for federal income tax purposes, on January 5, 2011 the Internal Revenue Service issued a new safe harbor for REITs with respect to certain mortgage loan modifications.


European Commission authorizes support package for Lithuanian financial institutions
  • Alston & Bird LLP
  • Lithuania, European Union
  • August 6 2010

Yesterday, the European Commission approved a package of Lithuanian programs intended to stabilize the financial markets in response to the global financial crisis.


Credit default swaps
  • Haynes and Boone LLP
  • USA
  • April 23 2010

The bankruptcy of Lehman Brothers and the federal government's rescue of Bear Stearns and AIG brought the credit default swap market into sharp public focus.


SEC approves Money Market Fund Reform to better protect investors
  • Morrison & Foerster LLP
  • USA
  • March 15 2010

On January 27, 2010, the Securities and Exchange Commission (the "SEC") adopted rule amendments designed to significantly strengthen the regulatory requirements governing money market funds and better protect investors (the "Money Market Fund Reform").