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Responses to 2008 Market Events

United States
United Kingdom
Europe
IMF
Swaps and CDS
 

For information about other countries, please see the Markets section.

October 8, 2014
ICMA Quarterly Report - Fourth Quarter 2014.

July 9, 2014
ICMA Quarterly Report - Third Quarter 2014.

June 10, 2014
Volcker Rule: Agencies Release Limited Volcker Rule Guidance (Sullivan & Cromwell).

Regulators Issue FAQs Regarding the Volcker Rule (Cadwalader, Wickersham & Taft).

April 9, 2014
ICMA Quarterly Report - Second Quarter 2014.

January 27, 2014
U.S. Agencies Approve Final Volcker Rule, Detailing Prohibitions and Compliance Regimes Applicable to Banking Entities Worldwide (Sullivan & Cromwell).

January 9, 2014
ICMA Quarterly Report - First Quarter 2014.

December 20, 2013
U.S. Regulators Finally Implement the Volcker Rule (Clifford Chance).

December 13, 2013
Volcker Rule: Agencies Approve Long-Awaited Final Rule; Most Requirements to Take Effect on July 21, 2015 (Sullivan & Cromwell).

December 11, 2013
Agencies Issue Final Volcker Rule (Cadwalader, Wickersham & Taft).

December 10, 2013
Final Volcker Rule Released!

October 8, 2013
ICMA Quarterly Report - Fourth Quarter 2013.

July 9, 2013
ICMA Quarterly Report - Third Quarter 2013.

June 18, 2013
Clifford Chance International Regulatory Update.

April 9, 2013
ICMA Quarterly Report - Second Quarter 2013.

February 27, 2013
Clifford Chance International Regulatory Update.

February 18, 2013
Clifford Chance International Regulatory Update.

February 11, 2013
Clifford Chance International Regulatory Update.

February 6, 2013
Clifford Chance International Regulatory Update.

January 28, 2013
Clifford Chance International Regulatory Update.

January 21, 2013
Clifford Chance International Regulatory Update.

January 14, 2013
Clifford Chance International Regulatory Update.

January 9, 2013
ICMA Quarterly Report - First Quarter 2013.

December 17, 2012
Clifford Chance International Regulatory Update.

December 10, 2012
Clifford Chance International Regulatory Update.

December 3, 2012
Clifford Chance International Regulatory Update.

November 26, 2012
Clifford Chance International Regulatory Update.

November 20, 2012
Treasury Issues Determination Exempting Foreign Exchange Forwards and Foreign Exchange Swaps (Sullivan & Cromwell).

November 19, 2012
Clifford Chance International Regulatory Update.

November 12, 2012
Clifford Chance International Regulatory Update.

November 5, 2012
Clifford Chance International Regulatory Update.

October 29, 2012
Clifford Chance International Regulatory Update.

October 22, 2012
Clifford Chance International Regulatory Update.

October 18, 2012
Clifford Chance International Regulatory Update.

October 15, 2012
CFTC Relief and Guidance as the "Swap" Definition Takes Effect (Sullivan & Cromwell). 

October 9, 2012
ICMA Quarterly Report - Fourth Quarter 2012.

October 8, 2012
Clifford Chance International Regulatory Update.

October 1, 2012
Clifford Chance International Regulatory Update.

September 28, 2012
The Wheatley Review of LIBOR: Final Report and Libor Scandal: Martin Wheatley's Speech.

September 24, 2012
Clifford Chance International Regulatory Update.  

September 17, 2012
Clifford Chance International Regulatory Update.

September 10, 2012
Clifford Chance International Regulatory Update.

September 4, 2012
Clearing Exemption for Inter-Affiliate Swaps: CFTC Proposes Rule to Exempt Swaps between Certain Affiliated Entities from the Clearing Requirement under Dodd-Frank (Sullivan & Cromwell).

September 3, 2012
Clifford Chance International Regulatory Update.

August 20, 2012
Clifford Chance International Regulatory Update.

August 13, 2012
CFTC’s Final Rules Definition of Swap, Security-Based Swap, and Security-Based Swap Agreement.

August 10, 2012
An Overview of Dodd-Frank’s Treatment of Loan-Based Swaps (Richards Kibbe & Orbe).

August 6, 2012
Clifford Chance International Regulatory Update.

The Effect of Bankruptcy on an Out-of-the-Money Swap (Richards Kibbe & Orbe).

July 30, 2012
Clifford Chance International Regulatory Update.

July 24, 2012
Clifford Chance International Regulatory Update.

July 19, 2011
Clifford Chance - European Regulatory Reform Progress Report 18 July.

July 16, 2012
Clifford Chance International Regulatory Update.

July 12, 2012
CFTC Guidance on Extraterritoriality: CFTC Releases Proposed Guidance on and Exemptive Relief from Cross-Border Application of Certain Swaps Provisions of the Commodity Exchange Act (Sullivan & Cromwell).

July 11, 2012
SEC and CFTC Adopt Product Definitions Under Title VII of Dodd-Frank: The SEC and CFTC Voted to Further Define “Swap”, “Security-Based Swap”, and “Security-Based Swap Agreement” and Finalize Related Requirements; CFTC Finalizes End-User Exception (Sullivan & Cromwell). 

July 10, 2012
Regulatory Capital Requirements: UK Tax Treatment of New Regulatory Capital Instruments (Sullivan & Cromwell).

July 9, 2012
Clifford Chance International Regulatory Update.

First Resolution Plans Filed (Sullivan & Cromwell).

OCC Revises Lending Limits Rule to Include Derivatives and Securities Financing Transactions (Cleary Gottlieb).

July 4, 2012
ICMA Quarterly Report - Third Quarter 2012.

July 3, 2012
Implementation of Security-Based Swap Regulations under Title VII: SEC Proposes Statement of General Policy on the Sequencing of Compliance with Security-Based Swap Regulations (Sullivan & Cromwell).

CFTC Proposes Guidance on Cross-Border Application of Title VII of the Dodd-Frank Act (Cleary Gottlieb).

July 2, 2012
Clifford Chance International Regulatory Update.

June 27, 2012
OCC Issues Interim Final Rules Applying the Lending Limit for National Banks and Savings Associations to the Credit Exposure to Derivatives and Securities Financing Transactions (Sullivan & Cromwell).

June 25, 2012
Clifford Chance International Regulatory Update.

June 18, 2012
Clifford Chance International Regulatory Update.

June 11, 2012
Clifford Chance International Regulatory Update.

Federal Reserve Board Issues Long-Awaited Capital Rules (Cleary Gottlieb).

June 8, 2012
CFTC and SEC Issue Final Swap-Related Rules Under Title VII of Dodd-Frank (Sullivan & Cromwell).

May 28, 2012
Clifford Chance International Regulatory Update.

May 21, 2012
Clifford Chance International Regulatory Update.

May 14, 2012
Clifford Chance International Regulatory Update.

CFTC Proposes Order Amending Effective Date for Swap Regulation to December 31, 2012 (or until the CFTC's rules and regulations go into effect, whichever is sooner).

May 8, 2012
Clifford Chance International Regulatory Update.

April 30, 2012
Clifford Chance International Regulatory Update.

April 27, 2012
Securities Lending and Repos: Market Overview and Financial Stability Issues: Interim Report of the FSB Workstream on Securities Lending and Repos.

April 23, 2012
Clifford Chance International Regulatory Update.

April 20, 2012
Federal Reserve Issues Statement of Policy Clarifying the Conformance Period Under the Volcker Rule (Sullivan & Cromwell).

Sullivan & Cromwell Spreadsheet Listing Their Publications Related to Dodd-Frank.

April 18, 2012
Shadow Banking Regulation Report (NY Federal Reserve Bank).

April 17, 2012
The Sun Never Sets on Dodd-Frank (Cadwalader, Wickersham & Taft).

April 16, 2012
Clifford Chance International Regulatory Update.
SIFMA and Other Associations’ Comment Letter to the CFTC on the Proprietary Provisions of the Volcker Rule.

April 12, 2012
What is a Swap?  Maybe (Almost) Everything? You Gotta Problem with That? (Cadwalader Wickersham & Taft).

April 10, 2012
Clifford Chance International Regulatory Update.

New Pan-European Restrictions on Short Selling (Cadwalader, Wickersham & Taft).

April 4, 2012
ICMA Quarterly Report - Second Quarter 2012.

April 2, 2012
Clifford Chance International Regulatory Update.

Sullivan & Cromwell Spreadsheet Listing Their Publications Related to Dodd-Frank.  

March 30, 2012
Clarification of the Swaps Push-Out Effective Date (Sullivan & Cromwell).

March 26, 2006
Clifford Chance International Regulatory Update.

March 22, 2012
Senate Considers Bipartisan Response to Volcker Timing Problem (Schulte Roth & Zabel).

March 19, 2012
Clifford Chance International Regulatory Update.

March 15, 2012
Sullivan & Cromwell Spreadsheet Listing Their Publications Related to Dodd-Frank.

March 12, 2012
Clifford Chance International Regulatory Update.

March 5, 2012
Clifford Chance International Regulatory Update.

February 27, 2012
Clifford Chance International Regulatory Update.

February 22, 2012
Sullivan & Cromwell Spreadsheet Listing Their Publications Related to Dodd-Frank.

February 20, 2012
Clifford Chance International Regulatory Update.

February 14, 2012
CFTC Proposal With Comment Period Ending on April 16, 2012.

February 13, 2012
Clifford Chance International Regulatory Update. 

Volcker Rule Proposal Draws Thousands of Comments: SIFMA, SIFMA AMG, SEC Website.
Other Industry Comments: Paul Volcker Letter, John Reed Letter.

February 6, 2012
CFTC Imposes External Business Conduct Standards on Swap Dealers and Major Swap Participants (Sullivan & Cromwell).

Clifford Chance International Regulatory Update.

CFTC and SEC Release Joint Report to Congress on International Swap Regulation.

February 1, 2012
Regulators Worldwide Voice Concerns. 

U.K.'s Osborne Lodges 'Volcker Rule' Complaint (may require Wall Street Journal subscription).

New Policy Library and Position Limits Feature on Center For Financial Stability Website.

January 31, 2012
Bank of Canada’s Carney Says Volcker Rule Might Damage Markets (may require Bloomberg subscription).

Volcker Rule Stirs Up Opposition Overseas (may require NY Times subscription).

January 30, 2012
Clifford Chance International Regulatory Update.

January 27, 2012
EU Red-Flags 'Volcker' (may require Wall Street Journal subscription).

January 23, 2012
Clifford Chance International Regulatory Update.

January 20, 2012
Sullivan & Cromwell Spreadsheet Listing Their Publications Related to Dodd-Frank.

January 19, 2012
The Volcker Rule - Restrictions on Proprietary Trading - Implications for the US Corporate Bond Market (Oliver Wyman Report).

January 18, 2012
Credit Rating Alternatives (Sullivan & Cromwell).

January 16, 2012
Market Making Under the Proposed Volcker Rule (Darrell Duffie, Stanford University Study).

Clifford Chance International Regulatory Update.

January 14, 2012
UK Faces Volcker Rule Clash (may require Telegraph subscription).

January 13, 2012
CFTC Issues Final Order Amending Effective Date for Swap Regulation.

Senator Hagan Statement Regarding Volcker.

January 12, 2012
Financial Stability Oversight Council Study and Recommendations on Prohibitions on Proprietary Trading & Certain Relationships with Hedge Funds & Private Equity Funds.

ICMA Quarterly Report - First Quarter 2012.

House Financial Services Committee Memo Regarding Volcker.

January 11, 2012
Japan and Canada Have Issued Warnings on the Adverse Effect that the Implementation of the Volcker Rule, As Currently Proposed, is Likely to Have on World Fixed Income Markets (may require Financial Times subscription).

January 9, 2012
Clifford Chance International Regulatory Update.

January 4, 2012
Clifford Chance International Regulatory Update.

January 3, 2012
Office of the Comptroller of the Currency, Treasury, Federal Reserve Board, FDIC and SEC Extend Comment Period on Dodd-Frank Act to February 13.

December 23, 2011
Federal Reserve Board Proposes Heightened Prudential Requirements for Large Bank Holding Companies and Non-Bank SIFIs (Cleary Gottlieb).

December 21, 2011
Approaching Deadline for Comments on the Volcker Rule under Dodd-Frank.

December 19, 2011
Clifford Chance International Regulatory Update.

December 16, 2011
Credit Rating Alternatives (Sullivan & Cromwell).

December 14, 2011
Sullivan & Cromwell Spreadsheet Listing Their Publications Related to Dodd-Frank.  

December 13, 2011
Sullivan & Cromwell Financial Services Reform Resource Center and Dodd-Frank Related Publications.

December 12, 2011
EMTA Letter Requesting Extension of Comment Period under Volcker Rule. 

Clifford Chance International Regulatory Update.

December 9, 2011
Statement by the Euro Area Heads of State or Government.

Europe’s Disastrous Summit (Felix Salmon).

December 5, 2011
Clifford Chance International Regulatory Update.

November 30, 2011
Trade Association Letter Requesting Extension of Comment Period under Volcker Rule. 

November 29, 2011
The Volcker Rule Proposal: Challenges, Open Issues and Unintended Consequences (Cleary Gottlieb).

November 28, 2011
European Parliament Votes to Ban “Naked” Credit Default Swaps on Sovereign Debt and Restrict “Naked” Short Sales (Paul Weiss).

Clifford Chance International Regulatory Update.

November 25, 2011
The Eurozone Crisis and Loan Agreements (Clifford Chance).

November 21, 2011
Clifford Chance International Regulatory Update.

November 17, 2011
IMF Press Release Relating to Hungary.

November 14, 2011
Clifford Chance International Regulatory Update.

November 10, 2011
Designation of Systemically Important Nonbank Financial Institutions under the Dodd-Frank Act (Paul Weiss).

CFTC Adopts Position Limits Rule, Proposes to Extend Temporary Exemptive Relief From the Applicability of Certain Swap Provisions of the Dodd-Frank Act (Paul Weiss).

November 7, 2011
Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds.

Clifford Chance International Regulatory Update.

November 3, 2011
The Volcker Rule's Impact on Financial Institutions' Ownership and Sponsorship of Structured Finance and Securitization Transactions (Cadwalader, Wickersham & Taft).

European Regulatory Reform - Progress Report (Clifford Chance).

November 2, 2011
Draft Proposed Common Rules under Dodd-Frank Act.

October 31, 2011
Clifford Chance International Regulatory Update. 

Summary of the Proposed Rule Implementing the Volcker Rule (Paul Weiss).

October 28, 2011
FDIC, Federal Reserve and OCC Joint Notice of Proposed Rulemaking.

October 26, 2011
CFTC Extended Relief with Respect to Dodd-Frank Effective Dates for Derivatives (Shearman & Sterling).

October 25, 2011
CFTC Amended Order. 

October 24, 2011
Clifford Chance International Regulatory Update.

October 19, 2011
Position Limits Rumors Become Reality: CFTC Adopts Final Position Limits Rule Under Dodd-Frank (Cadwalader, Wickersham & Taft).

October 17, 2011
Clifford Chance International Regulatory Update.

Regulators Propose Volcker Rule: Sweeping Changes Ahead (WilmerHale).

October 13, 2011
The Volcker Rule’s Significant Impact on a Foreign Banking Organization’s Proprietary Trading Activities (Cadwalader, Wickersham & Taft).

October 12, 2011
Volcker Rule Proposed Regulations (Davis Polk).

October 11, 2011
ICMA Regulatory Policy Newsletter Fourth Quarter 2011.

Summary of Proposed Volcker Rule Regulation — Fund Activities (Schulte Roth & Zabel).

October 10, 2011
Clifford Chance International Regulatory Update.

October 7, 2011
Volcker Rule Implementation to be Proposed (Schulte Roth & Zabel).

Summary of Leaked Volcker Release — Proprietary Trading (Davis Polk). 

The Proposed Revision of the Market Abuse Directive (Cadwalader, Wickersham & Taft).

October 3, 2011
Clifford Chance International Regulatory Update.

September 27, 2011
Clifford Chance International Regulatory Update.

September 21, 2011
Proposed Treasury Regulations Regarding Swaps and Other Notional Principal Contracts (Cadwalader, Wickersham & Taft).

September 19, 2011
Clifford Chance International Regulatory Update.

September 15, 2011
Summer Round-up - Clifford Chance International Regulatory Update.

September 12, 2011
Clifford Chance International Regulatory Update.

September 5, 2011
Clifford Chance International Regulatory Update.  

August 30, 2011
Clifford Chance International Regulatory Update.

August 22, 2011
Clifford Chance International Regulatory Update.

August 15, 2011
Clifford Chance International Regulatory Update.

August 12, 2011
Big Love: SEC Introduces "Large Trader" Reporting System (Richards Kibbe & Orbe).

August 8, 2011
Clifford Chance International Regulatory Update.

August 7, 2011
European Central Bank Statement Announcing Implementation of Its Securities Market Program.

August 5, 2011
LSTA Week in Review.

August 2, 2011
SEC Adopts Large Trader Reporting Regime (Paul Weiss).

Clifford Chance International Regulatory Update.

August 1, 2011
LSTA 
Comment Letter and Press Release on Risk Retention for CLO Market under Dodd-Frank.

July 29, 2011
LSTA Week in Review.  

July 28, 2011
Financial Regulatory Reform in the European Union: State of Play and Prospects (Cleary Gottlieb).

July 27, 2011
Dodd-Frank: One Year Later - Key Current Issues for Financial Institutions (Cleary Gottlieb).

July 25, 2011
SEC Adopts Final Rules Implementing Advisers Act Provisions of the Dodd-Frank Act; Registration Deadline Extended until March 30, 2012 (Paul Weiss). 

Clifford Chance International Regulatory Update.

July 22, 2011
LSTA Week in Review.

July 19, 2011
CFTC Order.

July 18, 2011
Clifford Chance International Regulatory Update.

July 15, 2011
SEC Proposed Rule: Business Conduct Standards (Cleary Gottlieb).

Title VII Provisions in Dodd-Frank Become Effective on July 16 (LSTA).

July 13, 2011
ICMA Regulatory Policy Newsletter Third Quarter 2011.

July 11, 2011
Clifford Chance International Regulatory Update.

July 9, 2011
Dodd-Frank Wall Street Reform and Consumer Protection Act Poised to Usher in Sweeping Reform of U.S. Financial Services Regulation (Cleary Gottlieb).

July 5, 2011
Global Trade Associations Warn of Potential Pitfalls of New Derivatives Regulations (Cadwalader, Wickersham & Taft).

July 4, 2011
Clifford Chance International Regulatory Update.  

June 29, 2011
Clifford Chance International Regulatory Update.

June 27, 2011
SEC Adopts Dodd-Frank Act Investment Adviser Rules and Delays Implementation of Some Deadlines (Cadwalader, Wickersham & Taft).

June 24, 2011
MSHDA v. Lehman: Trying to Keep the Safe Harbor Safe for Swap Counterparties (Richards Kibbe & Orbe).

June 20, 2011
Clifford Chance International Regulatory Update.

June 17, 2011
CFTC Order Extending Certain Provisions in Title VII of the Dodd-Frank Act.

CFTC, SEC Propose to Delay the Applicability of Certain Swap Provisions of the Dodd-Frank Act (Paul Weiss).

European Regulatory Reform Progress Report - June 2011 (Clifford Chance).

June 15, 2011
SEC Order Extending Certain Provisions in Title VII of the Dodd-Frank Act.

June 13, 2011
Living Wills:  A User's Guide To Dodd-Frank's Bequest to Banks (Cadwalader, Wickersham & Taft).

Two Dodd-Frank Problems: the Effective Date and the Definitions Contingency Planning in the Absence of a Regulatory Structure (Cadwalader, Wickersham & Taft).

Clifford Chance International Regulatory Update.

June 6, 2011
Clifford Chance International Regulatory Update.

May 31, 2011
Clifford Chance International Regulatory Update.

May 24, 2011
Report on Sovereign CDS.

May 23, 2011
Clifford Chance International Regulatory Update.

May 18, 2011
Department of Treasury Proposes to Exempt FX Swaps and FX Forwards from the Definition of “Swap” under the Commodity Exchange Act (Paul Weiss).

May 16, 2011
Clifford Chance International Regulatory Update.

May 12, 2011
U.S. Treasury Proposes FX Swap and Forward Exemption Under Dodd-Frank (Cleary Gottlieb).

May 9, 2011
Clifford Chance International Regulatory Update.

May 3, 2011
Clifford Chance International Regulatory Update.

May 2, 2011
Regulators Propose Margin and Capital Requirements for Non-Cleared Swaps (Dewey & LeBoeuf).

April 29, 2011
US Banking Regulators Propose Capital and Margin Requirements for Covered Swap Entities.

Treasury issues Notice of Proposed Determination of Foreign Exchange Swaps and Forwards.

April 28, 2011
CFTC Proposed Rules and Interpretative Guidance Regarding Swaps.

April 27, 2011
CFTC Proposes Uncleared Swap Margin Requirements (Cleary Gottlieb).

Dodd-Frank: CFTC and Prudential Regulators Release Proposed Margin Requirements for Uncleared Swaps (Shearman & Sterling).

April 26, 2011
Lehman Update: Derivatives Creditors File a Competing Plan (Richards Kibbe & Orbe).

April 21, 2011
The Dodd Frank Act's Impact on Affiliate Transactions (Cadwalader, Wickersham & Taft).

April 20, 2011
CFTC Releases Swap Margin Proposal (Davis Polk).

April 18, 2011
Clifford Chance International Regulatory Update.

April 14, 2011
Prudential Regulators Propose Swap Margin and Capital Requirements (Cleary Gottlieb).

April 13, 2011
ICMA Regulatory Policy Newsletter Second Quarter 2011.

CFTC, Prudential Regulators Propose Margin Rules for Non-Cleared Swaps (Cadwalader, Wickersham & Taft).

April 11, 2011
Clifford Chance International Regulatory Update.

March 28, 2011
Clifford Chance International Regulatory Update.

March 25, 2011
EU Statement Regarding ESM.

ICMA ERC European Repo Market White Paper Update Relating to Italy and Greece.

March 21, 2011
Clifford Chance International Regulatory Update.

March 14, 2011
Clifford Chance International Regulatory Update.

March 11, 2011
Conclusions of the Heads of State or Government of the Euro Area.

March 10, 2011
EU States Divided Over Curbs on Debt Swaps (Financial Times).

March 9, 2011
EU States Fail to Agree CDS Shortselling Rules (Reuters).

March 8, 2011
Clifford Chance International Regulatory Update.

February 28, 2011
Clifford Chance International Regulatory Update.

February 21, 2011
Clifford Chance International Regulatory Update.

February 14, 2011
Proposed EU “Bail-in” Measures May Impact Credit Derivatives Framework (Cadwalader, Wickersham & Taft).

Clifford Chance International Regulatory Update.

February 11, 2011
Fed Issues Final Regulations on the Volcker Rule's Extension Periods (Cadwalader, Wickersham & Taft).

February 10, 2011
Financial Crisis Inquiry Commission Report.

Proposed Legislation Establishing The New York Department of Financial Regulation Contains New Enforcement Powers Aimed at Financial Institutions (Paul Weiss).

February 9, 2011
FRB Issues Final Rule Implementing Volcker Rule Conformance Period. 

February 7, 2011
Clifford Chance International Regulatory Update.  

January 24, 2011
Clifford Chance International Regulatory Update.

January, 31, 2011
Clifford Chance International Regulatory Update.

January 21, 2011
SEC Adopts Rules Requiring Asset-Backed Issuers to Review Securitized Assets and Disclose Asset Repurchase History (Cleary Gottlieb). 

Final Study Investment Advisors.

Statement of Commissioners Casey and Paredes.

Financial Stability Oversight Counsil. 

January 18, 2011
ICMA Regulatory Policy Newsletter First Quarter 2011.

January 17 2011
Clifford Chance International Regulatory Update.

January 10, 2011
CFTC and SEC Propose Further Definitions of “Swap Dealer” and “Major Swap Participant” (Paul Weiss).

Clifford Chance International Regulatory Update.

January 7, 2011
CFTC's Proposed Business Conduct Regulation: Can the OTC Swap Market Survive the "Cure"? (Cleary Gottlieb).

January 5, 2011
Clifford Chance International Regulatory Update.

December 20, 2010
Clifford Chance International Regulatory Update.

December 14, 2010
The Lincoln Amendment: Banks, Swap Dealers, National Treatment and the Future of the Amendment (Cadwalader, Wickersham & Taft).

December 3, 2010
Prepare for the Clearing Environment (Richards Kibbe & Orbe).  

November 29, 2010
A Claims Market Emerges in Iceland (Richards Kibbe & Orbe).

November 28, 2010
Statement by the Eurogroup.

November 23, 2010
ICMA Sovereign Bond Consultation Paper.

November 22, 2010
S&P Reconsiders De-Linked Rating for Bank-Sponsored Securitizations That Fall Outside FDIC’s Final Safe Harbor Rule (Cadwalader, Wickersham & Taft). 

November 15, 2010
The SEC Publishes Final Rule Regulating Access to Securities Markets (Cadwalader, Wickersham & Taft). 

November 12, 2010
Dodd-Frank Crosses the Pond: Unintended Consequences for LMA-Style Loan Participations? (Richards Kibbe & Orbe).  

November 9, 2010
A European Mechanism for Sovereign Debt Crisis Resolution: A Proposal.

November 8, 2010
Lehman Seeks to Unwind Elevations of European Loan Participants (Richards Kibbe & Orbe).

October 21, 2010
UK Bank Levy- Draft Legislation (Clifford Chance).

October 15, 2010
An Analysis of the Dodd-Frank Act's Volcker Rule (Cadwalader, Wickersham & Taft).

October 14, 2010
ICMA Regulatory Policy Newsletter Fourth Quarter 2010.  

October 1, 2010
Loan CDS and TRS: Life After Dodd-Frank? (Richards Kibbe & Orbe).

September 22, 2010
Prevention and Cure: Securing Financial Stability after the Crisis (The Association for Financial Markets in Europe (AFME)). 

September 3, 2010
European Insolvency Procedures - 2010 Edition (Clifford Chance). 

August 12, 2010
Changes to the Regulation of Broker-Dealers and Investment Advisers Under Title IX of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Cadwalader, Wickersham & Taft). 

July 30, 2010
SIFMA SmartBrief Special Update on Regulatory Reform -- Part II. 

July 29, 2010
SIFMA SmartBrief Special Update on Regulatory Reform – Part I. 

July 26, 2010
The Group of Governors and Heads of Supervision Reach Broad Agreement on Basel Committee Capital and Liquidity Reform Package. 

July 23, 2010
Aggregate Outcome of the 2010 EU Wide Stress Test Exercise Coordinated by CEBS in Cooperation with the ECB and Q&A (Committee of European Banking Supervisors).

Impact of the Repeal of Securities Act of 1933 Rule 436(g) pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. 

July 21, 2010
Impact of the Repeal of Securities Act of 1933 Rule 436(g) pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Cleary Gottlieb Steen & Hamilton, Cravath, Swaine & Moore, Davis Polk & Wardwell, Latham & Watkins, Mayer Brown, Shearman & Sterling, Sidley Austin, Simpson Thacher & Bartlett, Skadden, Arps, Slate, Meagher & Flom and Sullivan & Cromwell).

Dodd-Frank Wall Street Reform and Consumer Protection Act, Preliminary Assessment of Provisions Effective Immediately or Very Soon After Enactment and Timeline (Davis Polk & Wardwell).

July 20, 2010
Reforms to the Asset-Backed Securitization Process and the Regulation of Credit Rating Agencies under Dodd-Frank Wall Street Reform and Consumer Protection Act (Cadwalader, Wickersham & Taft). 

The Dodd-Frank Act: How It Impacts Specific Industries, Entities and Transactions (Cadwalader, Wickersham & Taft). 

Overview and Implications of the Regulatory Reform of OTC Derivatives (Dewey & LeBoeuf). 

July 18, 2010
Preliminary Assessment of Provisions Effective Immediately or Very Soon After Enactment (Davis Polk & Wardwell). 

July 16, 2010
U.S. Financial Reform Legislation Does Not Authorize Private Aiding And Abetting Actions, But Expressly Clarifies And Enhances The SEC’s Ability To Pursue Secondary Actors (Richards Kibbe & Orbe). 

Countercyclical Capital Buffer Proposal - Consultative Document (BIS). 

Understanding the New Financial Reform Legislation (Mayer Brown). 

Financial Regulatory Reform: An Overview of The Dodd-Frank Wall Street Reform and Consumer Protection Act (Weil Gotshal). 

The Dodd-Frank Act: A Cheat Sheet (Morrison & Foerster). 

July 15, 2010
SIFMA Regulatory Reform Summit Highlights. 

July 9, 2010
Summary of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Regulatory Implementation Slides (Davis Polk & Wardwell).

Dodd-Frank Wall Street Reform and Consumer Protection Act Poised to Usher in Sweeping Reform of U.S. Financial Services Regulation (Cleary Gottlieb). 

July 7, 2010
ICMA Regulatory Policy Newsletter Third Quarter 2010. 

July 2, 2010
House of Representatives Approves Historic Revision of Financial Services Regulation (Sullivan & Cromwell).

July 2010
ICMA ERC European Repo Market White Paper: Operation of the European Repo Market, the Role of Short-Selling, the Problem of Settlement Failures and the Need for Reform of the Market Infrastructure.

June 21, 2010
ICMA Message on Sovereign Bond Markets. 

June 9, 2010
U.S. Financial Reform Legislation – Will the Syndicated Loan Market be Affected? (Clifford Chance). 

June 2, 2010
Financial Reform Side-by-Side Comparison Chart - Key Senate and House Bill Issues (Davis Polk & Wardwell). 

May 27, 2010
The Changing Face of Hedge Fund Regulation (Cadwalader, Wickersham & Taft). 

May 22, 2010
Summary of the Restoring American Financial Stability Act, Passed by the Senate on May 20, 2010 (Davis Polk). 

May 19, 2010
SIFMA Develops Capitol Interest, a Website that Provides Updates and Information About the Financial Reform Debate. 

May 18, 2010
Sovereign Debt Information (ICMA Website). 

May 13, 2010
New UK Coalition Sets Out Proposals for Banking Reform (Clifford Chance). 

May 9, 2010
The European Financial Stability Facility (EFSF). 

May 3, 2010
Some Concerns with the Derivatives Legislation (Cadwalader, Wickersham & Taft). 

April 15, 2010
ICMA Regulatory Policy Newsletter April 2010 - Quarterly Assessment. 

April 7, 2010
The $100 Billion Question (Bank of England). 

2009 JP Morgan Chase Shareholder Report on Financial System Reform and America's Success (excerpted pages 25-end) by Jamie Dimon, Chairman and Chief Executive Officer. 

2009 Goldman Sachs Annual Shareholder Report by Lloyd C. Blankfein, Chairman and Chief Executive Officer, and Gary D. Cohn, President and Chief Operating Officer. 

March 23, 2010
Summary of Manager’s Amendment to the March Dodd Bill (Davis Polk). 

March 17, 2010
Senator Dodd's Proposed Legislation (Davis Polk Summary of the Legislation). 

Summary of the March 15, 2010 Draft of the Restoring American Financial Stability Act, Introduced by Senator Christopher Dodd (D-CT) (Davis Polk). 

Revised Senate Discussion Draft of Proposed Securitization Reform Legislation (Sidley Austin). 

March 15, 2010
Senator Dodd's Proposed Legislation (Senate Banking Committee Summary of the Legislation). 

Revised Draft of Senator Dodd Bill. 

March 5, 2010
Treasury Proposes “Volcker Rule” Legislative Text (Davis Polk). 

March 3, 2010
Recent Changes to SEC Rating Agency Reform Impose Burdensome Requirements on Structured Products Participants (Cadwalader, Wickersham & Taft). 

February 4, 2010
House Regulatory Reform Bill May Impose Further Burdens On Large Funds (Cadwalader, Wickersham & Taft). 

January 13, 2010
ICMA Regulatory Policy Newsletter January 2010 - Quarterly Assessment. 

December 22, 2009
SEC Adopts Changes to Corporate Governance Disclosure Requirements (Paul Weiss). 

December 17, 2009
SEC Approves Enhanced Disclosure About Risk, Compensation and Corporate Governance (Paul Weiss). 

December 11, 2009
LSTA Week in Review. 

October 30, 2009
LSTA Week in Review. 

October 27, 2009
Financial Stability Improvement Act Press Release. 

Financial Stability Improvement Act Discussion Draft. 

October 23, 2009
LSTA Week in Review. 

October 9, 2009
LSTA Week in Review. 

October 5, 2009
LSTA Week in Review. 

September 29, 2009
Lehman Bankruptcy Court Holds ISDA Swap Counterparty in Violation of Automatic Stay/Counterparty Seeks Modification (Cadwalader, Wickersham & Taft). 

September 24, 2009
The Davis Polk Financial Crisis Manual (Davis Polk & Wardwell). 

SEC Takes Action on Credit Rating Agency Rules (Cleary Gottlieb). 

September 3, 2009
Principles for Reforming the U.S. and International Regulatory Capital Framework for Banking Firms (US Treasury). 

September 1, 2009
Administration's Proposed OTC Derivatives Legislation (Cleary Gottlieb). 

August 20, 2009
REVISED: Over-the-Counter Derivatives Markets Act of 2009 (Cadwalader, Wickersham & Taft). 

August 14, 2009
LSTA Week in Review. 

August 7, 2009
LSTA Week in Review.  

August 3, 2009
SEC Adopts Short Selling Rule Giving Permanent Effect to Close-Out Requirement (Paul Weiss). 

July 27, 2009
SEC Proposes Changes to Compensation and Corporate Governance Disclosures and Proxy Solicitation Rules (Paul Weiss). 

July 26, 2009
Interim Final Rule on TARP Standards for Compensation and Corporate Governance (Paul Weiss). 

July 24, 2009
LSTA Week in Review. 

July 23, 2009
Obama Administration Releases Legislative Language Regarding Asset-Backed Securitization (Cadwalader, Wickersham & Taft). 

July 22, 2009
Obama Administration Proposes Registration of All Private Fund Advisers (Paul Weiss). 

July 17, 2009
LSTA Week in Review. 

July 15, 2009
Private Equity Investments in Troubled Banks (Cadwalader, Wickersham & Taft). 

July 14, 2009
Obama Administration Releases Proposed Legislation to Strengthen the SEC’s Authority to Protect Investors (Paul Weiss). 

July 10, 2009
LSTA Week in Review. 

July 9, 2009
ICMA Regulatory Policy Newsletter July 2009 - Quarterly Assessment. 

July 8, 2009
A Reference Guide to the Financial Crisis Rescue Efforts and Regulatory Reform Initiatives (Paul Weiss). 

July 7, 2009
A Proposed UK Code of Practice on Taxation for Banks – Abiding by the “Spirit of the Law” or “Spooky Jurisprudence” by another name? (Cadwalader, Wickersham & Taft). 

July 2, 2009
SEC Proposes Enhanced Compensation and Corporate Governance Disclosures for U.S. Public Companies (Paul Weiss). 

July 1, 2009
SEC Proposes Rules Implementing "Say-On-Pay" Requirement for TARP Recipients (Paul Weiss). 

June 29, 2009
LSTA Week in Review. 

June 26, 2009
LSTA Week in Review. 

Interim Final Rule on TARP Standards for Compensation and Corporate Governance (Paul Weiss). 

June 24, 2009
Recently Proposed Regulatory Reforms to Over-The-Counter (“OTC”) Derivatives and Securitization Markets (Paul Weiss). 

June 22, 2009
The Obama Administration’s Financial Regulatory Reform Proposal (Cadwalader, Wickersham & Taft). 

Impact of the Obama Financial Regulatory Proposal on Specific Markets and on the U.S. Financial Regulatory Framework (Cadwalader, Wickersham & Taft). 

A New Foundation for Financial Regulation (Davis Polk & Wardwell). 

The Obama Administration’s Financial Regulatory Reform Proposal and Its Impact on the Securitization Markets (Cadwalader, Wickersham & Taft). 

Obama Proposal for Regulatory Reform as It Relates to OTC Derivatives Markets (Cadwalader, Wickersham & Taft). 

June 19, 2009
LSTA Week in Review. 

Treasury Proposes Comprehensive Financial Regulatory Reform (Paul Weiss). 

June 17, 2009
Obama Administration's Financial Regulatory Reform Proposal Introduced (Cadwalader, Wickersham & Taft). 

Regulation of Private Fund Advisers Imminent (Paul Weiss). 

Obama Financial Reform Proposal 2009 Regulatory Reform Matrix and Historical Regulatory Reform Matrix (Patton Boggs).

June 12, 2009
New Federal Principles and Proposals on Executive Compensation (Paul Weiss). 

May 27, 2009
TALF: Legacy CMBS Framework Announced (Paul Weiss). 

May 20, 2009
The Treasury Outline on Regulation of Over-The-Counter (OTC) Derivatives (Paul Weiss). 

May 15, 2009
Regulatory Reform of OTC Derivatives Markets (Cadwalader, Wickersham & Taft).  

May 12, 2009
A Reference Guide to the Financial Crisis Rescue Efforts (Paul Weiss).  

May 8, 2009
Governmental Assistance to the Financial Sector: An Overview of the Global Responses (Shearman & Sterling). 

LSTA Week in Review. 

May 7, 2009
A Reference Guide to the Financial Crisis Rescue Efforts (Paul Weiss). 

House Passes the Fraud Enforcement and Recovery Act of 2009; Would Establish a Financial Crisis Inquiry Commission (Paul Weiss). 

May 6, 2009
TALF: An Update (Paul Weiss). 

May 5, 2009
European Commission Publishes Draft Directive on Alternative Investment Fund Managers (Paul Weiss). 

April 30, 2009
OTC Derivatives: The Context and Future of Current Regulatory Initiatives (Richards Kibbe & Orbe). 

April 29, 2009
Stimulus Efforts; Programs Designed to Ease Real Estate Credit Markets (Paul Weiss). 

April 28, 2009
SEC Proposes Changes to Regulation SHO (Paul Weiss). 

April 27, 2009
SEC Proposes New Price-Based Restrictions on Short Sales (Richards Kibbe & Orbe). 

April 23, 2009
Treasury, Federal Reserve, & FDIC Credit and Liquidity Programs. 

April 13, 2009
Changes Coming to Fund Compensation Structures (Richards Kibbe & Orbe). 

April 10, 2009
Treasury Proposes New Resolution Authority for Systemically Significant Financial Companies (Paul Weiss). 

April 9, 2009
Governmental Assistance to the Financial Sector: an Overview of the Global Responses (v6) (Shearman & Sterling). 

April 8, 2009
ISDA Auction Hardwiring and other Market Initiatives: Strengthening the Infrastructure for CDS Transactions (Cadwalader, Wickersham & Taft). 

ICMA Regulatory Policy Newsletter - Quarterly Assessment. 

SEC Proposes Alternative Short Sale Restrictions (Cleary Gottlieb). 

April 6, 2009
Treasury Extends Deadline for PPIP Fund Manager Applications; Releases Additional Guidance on Legacy Securities Portion of PPIPs (Cadwalader, Wickersham & Taft). 

April 3, 2009
FAS 157-Determining Whether a Market is Not Active and a Transaction is Not Distressed. 

FASB Eases Mark-to-Market Rules. 

April 2, 2009
The Public-Private Investment Program For Legacy Loans: Unanswered Questions For Loan Sellers and Investors and Request For Comments by the FDIC (Cadwalader, Wickersham & Taft). 

April 1, 2009
Joint Press Release from Mexican Finance Ministry and Central Bank Announcing Mexico Will Apply for IMF's Flexible Credit Line (FCL). 

Stock Exchanges Ask SEC to Adopt a Modified Uptick Rule (Richards Kibbe & Orbe). 

March 30, 2009
Treasury’s Rules of the Road for Regulatory Reform (Davis Polk & Wardwell). 

Treasury's Proposed Resolution Authority for Systemically Significant Financial Companies (Davis Polk & Wardwell). 

March 27, 2009
UPDATE: Understanding the Term Asset-Backed Securities Loan Facility ("TALF") (Cadwalader, Wickersham & Taft). 

LSTA Week in Review. 

March 26, 2009
Geithner Proposes Private Fund Adviser Registration and Private Fund Disclosures (Paul Weiss). 

The Public-Private Investment Program; Treasury's Plan to Cleanse Legacy Assets from Bank's Balance Sheets (Cadwalader, Wickersham & Taft). 

March 25, 2009
IMF Announces Staff-Level Agreement with Romania as Part of Coordinated Financial Support with the EU, World Bank and EBRD. 

March 24, 2009
The Big Bang Protocol and A New Structural Framework for Credit Default Swaps (Paul Weiss).The Big Bang Protocol and A New Structural Framework for Credit Default Swaps (Paul Weiss). 

The Manny Ramirez Tax Lightbulb; Also (2 Ideas in 1 Memo) Putting Pay in Perspective (Cadwalader, Wickersham & Taft). 

Public-Private Investment Funds Issues for Potential Investors (Paul Weiss). 

Executive Bonus Tax Proposals (Baker Hostetler). 

March 20, 2009
Just Two CDS Clearinghouses Will Survive, Analysts Say. 

LSTA Week in Review. 

March 18, 2009
ICE Clears Major Hurdle for CDS. 

March 16, 2009
SEC Adopts New Rules for Credit Rating Agencies (Paul Weiss). 

March 13, 2009
Understanding the New Standard North American Credit Default Swap (Richards Kibbe & Orbe). 

ISDA Auction Hardwiring and other Market Initiatives: Strengthening the Infrastructure for CDS Transaction (Cadwalader, Wickersham & Taft).  

LSTA Week in Review. 

March 11, 2009
From SIFMA: TALF Documents. 

March 10, 2009
The UK Banking Act 2009: Counterparty Rights and Insolvent Banks (Cadwalader, Wickersham & Taft). 

March 9, 2009
ICE Starts Credit-Default Swap Clearing in Bid for $400 Million. 

March 6, 2009
TALF is Launched with Revised Terms (Paul Weiss). 

March 5, 2009
ISDA Publishes Close-Out Amount Protocol. 

March 4, 2009
Understanding the Term Asset-Backed Securities Loan Facility ("TALF") (Cadwalader, Wickersham & Taft). 

March 3, 2009
U.S. Treasury and Federal Reserve Board Announce Launch of Term Asset-Backed Securities Loan Facility (TALF). 

February 27, 2009
LSTA Week in Review. 

February 25, 2009
How Geithner Can Price Troubled Bank Assets (Wall Street Journal). 

February 24, 2009
A Reference Guide to the U.S. Rescue Efforts (Paul Weiss). 

February 20, 2009
Regulators Seek Coordinated Oversight of CDS Clearinghouses (Wall Street Journal). 

LSTA Week in Review. 

February 19, 2009
A Global Framework for Cooperation Among CDS CCP Regulators (FRBNY).  

TALF (Term Asset-Backed Securities Loan Facility): Issues for Borrowers and Investors (Paul Weiss). 

February 13, 2009
LSTA Week in Review. 

February 10, 2009
Treasury’s Fact Sheet on Geithner Announcement. 

Remarks by Treasury Secretary Timothy Geithner Introducing the Financial Stability Plan. 

Treasury Announces Obama Administration's Financial Stability Plan (Cleary Gottlieb). 

February 9, 2009
More Executive Compensation Restrictions Are Included in the Senate Stimulus Bill Expected to Pass Tomorrow (Davis Polk & Wardwell). 

February 6, 2009
CDS Market Changes (Barclays Capital). 

New Executive Compensation Restrictions Under the Emergency Economic Stabilization Act of 2008 (Davis Polk & Wardwell). 

February 4, 2009
SEC Publishes Final Rules and Proposes Additional Rules for Credit Rating Agencies (Davis Polk & Wardwell). 

February 2, 2009
Draft U.S. Law Seeks to Regulate Credit Default Swaps (Cadwalader, Wickersham & Taft). 

January 29, 2009
Equity Kickers: Extra Point for Lenders (Richards Kibbe & Orbe). 

January 28, 2009
The Game Changer (George Soros). 

January 25, 2009
Everything You Wanted to Know about Credit Default Swaps-but Were Never Told (Peter J. Wallison). 

January 23, 2009
LSTA Week in Review. 

January 22, 2009
The Future of Financial Regulation: Meet the New Regulators, Better Than the Old Regulators? (Cadwalader, Wickersham & Taft). 

January 16, 2009
LSTA Week in Review. 

January 15, 2009
ICMA Regulatory Policy Newsletter - Quarterly Assessment. 

January 14, 2009
From SIFMA:  

Summary of Key Manager’s Amendments to TARP II (Auto, Credit Unions and Tenant Rights not Covered) (Davis Polk & Wardwell).  

January 12, 2009
The Struggle Over the Second Half of TARP (Davis Polk & Wardwell). 

January 7, 2009
SEC Delivers Report on Mark-to-Market Accounting – Recommends Against Suspension of Fair Value Accounting (Paul Weiss). 

January 6, 2009
BIS Principles for Sound Stress Testing: Basel Committee Issues Consultative Paper. 

ISDA 2009 Ecuador CDS Protocol. 

OECD Journal: Financial Market Trends. 

December 30, 2008
From LSTA: Treasury Press Release - TARP Investment in GMAC. 

December 23, 2008
A Reference Guide to the U.S. Rescue Efforts (Paul Weiss). 

December 22, 2008
Republic of Ecuador Uniform Settlement Agreement (ISDA). 

December 18, 2008
ICMA Regulatory News Update. 

December 17, 2008
ISDA to Publish Protocol for Ecuador. 

From LSTA: Lehman Order on Assumed and Rejected Trades Approved. 

December 11, 2008
ICMA Regulatory News Update. 

December 8, 2008
Iceland's New Foreign Exchange Regs - Investor Q&A. 

December 5, 2008
LSTA Week in Review. 

December 4, 2008
ICMA Regulatory News Update. 

SEC Adopts Credit Rating Agency Rules (Cleary Gottlieb). 

December 1, 2008
Bank for International Settlements (BIS) Supervisory Guidance for Assessing Banks' Financial Instrument Fair Value Practices. 

November 28, 2008
Iceland Publishes New Foreign Exchange Rules (No. 1082). 

November 27, 2008
ICMA Regulatory News Update. 

November 26, 2008
A Reference Guide to the U.S. Rescue Efforts (Paul Weiss). 

November 24, 2008
SEC Publishes Roadmap for the Use of IFRS by U.S. Reporting Companies (Paul Weiss). 

November 20, 2008
IMF Approves $2.1 Billion Loan For Iceland. 

ICMA Regulatory News Update. 

November 17, 2008
From LSTA: Lehman - Motion to Approve or Reject Open Trades. 

November 14, 2008
Global Regulatory Modernisation: Key Objectives and Principles: A Note for the G20 Summit by: LIBA, SIFMA, ICMA, ISDA, BBA, and FOA. 

House Takes Testimony From Hedge Fund Industry’s Major Players and Academics on the Topic of Hedge Fund Regulation (Cadwalader, Wickersham & Taft). 

LSTA Week in Review. 

November 13, 2008
ICMA Regulatory News Update. 

November 12, 2008
OECD Preparing Two-Pillar Action Plan in Response to Crisis. 

November 11, 2008
Highlights from SIFMA's TARP Summit. 

November 10, 2008
IIF Press Release and Letter "Group of 20 Summit Provides Opportunity for Far-Reaching Reforms. Financial Services Firms Recognize their Responsibility to Restore Trust". 

November 7, 2008
HM Treasury Issues General License (L5) under Landesbanki Freezing Order 2008. 

LSTA Week in Review. 

From LMA: Lehman Update (Clifford Chance). 

November 6, 2008
Issues and Implications of the Race to Regulate Credit Default Swaps (Paul Weiss). 

November 5, 2008
IMF Approves US$16.4 Billion Stand-By Arrangement for Ukraine. 

November 3, 2008
US Government Capital Injections – Important Changes from the Term Sheet (Davis Polk & Wardwell). 

October 31, 2008
From LSTA: Stipulation re: Lehman. Motion re: Lehman. 

Ukraine: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding. 

From LMA: Lehman Brother Companies in Administration. 

Lehman Brothers Bankruptcy Update (Davis Polk & Wardwell). 

October 30, 2008
Davis Polk & Wardwell Corporate Regulatory Report. 

ICMA Regulatory News Update. 

October 29, 2008
Transcript of a Press Conference by IMF Managing Director Dominique Strauss-Kahn on the Launch of a New Facility for Emerging Markets Hit By Crisis. 

IMF to Launch New Facility for Emerging Markets Hit by Crisis. 

US Federal Reserve Press Release on Swap Lines with Brazil, Mexico, South Korea and Singapore. 

October 28, 2008
IMF Announces Staff-Level Agreement with Hungary on €12.5 Billion Loan (US$15.7 billion); European Union, World Bank to Lend, Too. 

IMF, EU, and World Bank Line Up $25 Billion for Hungary. 

IMF Announces Staff-Level Agreement with Hungary on €12.5 Billion Loan (US$15.7 billion); European Union, World Bank to Lend, Too. 

October 27, 2008
2008 ISDA Icelandic Banks CDS Protocols. 

Coping with the Credit Crisis: Certain Considerations for Boards of Directors and Senior Management of U.S. Public Companies (Paul Weiss). 

October 26, 2008
IMF Announces Staff Level Agreement with Ukraine on US$16.5 Billion Loan. 

IMF Set to Lend Ukraine $16.5 Billion, In Talks With Hungary. 

SEC Adopts Short Selling Rules Giving Effect to Emergency Orders (Paul Weiss). 

October 24, 2008
IMF Announces Staff Level Agreement on US$2.1 Billion Loan to Iceland. 

October 23, 2008
Executive Compensation Rules Under the Emergency Economic Stabilization Act of 2008 (Davis Polk & Wardwell). 

A Reference Guide to the U.S. Rescue Efforts (Paul Weiss). 

ICMA Regulatory News Update. 

October 22, 2008
Statement by IMF Managing Director Strauss-Kahn on the Republic of Belarus. 

IMF in Talks on Loans to Countries Hit by Financial Crisis. 

Statement by IMF Managing Director Strauss-Kahn on Pakistan. 

Iceland Regulators Establish New Kaupthing bank hf. 

Lending, Investing and Trading After the Market Break (Richards Kibbe & Orbe). 

From ICMA: Response to Market Turbulence: Country Plans. 

IMF in Talks on Loans to Countries Hit by Financial Crisis. 

October 21, 2008
Application Guidelines and other Materials on Capital Purchase Program (Paul Weiss). 

ISDA CEO Notes Success of Lehman Settlement, Addresses CDS Misperceptions. 

October 20, 2008
From LSTA: Open Trades With Lehman Brothers Holdings Inc. 

Treasury Department Temporary Guarantee Program for Money Market Mutual Funds (Paul Weiss). 

Treasury/IRS Issue Rules Implementing EESA Restrictions on Executive Compensation on Institutions Participating in the Troubled Asset Relief Program (Paul Weiss). 

New Internal Revenue Code Section 457A (Paul Weiss). 

October 17, 2008
Guidance Note of HM Treasury Re The Landesbanki Freezing Order 2008. 

LSTA Week in Review. 

From LSTA: Lehman Commercial Paper Open Trades. 

SEC Extends and Modifies Short Sale Disclosure Regime (Richards Kibbe & Orbe). 

European Commission Guidance on State Aid and the Financial Crisis (Cleary Gottlieb). 

Federal Reserve Bank of New York Announces Additional Details Regarding Commercial Paper Funding Facility (Davis Polk & Wardwell). 

October 16, 2008
Iceland Central Bank Statement on Status of Payments. 

Iceland Central Bank Statement on Payments to Icelandic Banks. 

ICMA Regulatory News Update. 

Success of ISDA Settlement Protocol Series Continues, ISDA Launches Washington Mutual Protocol. 

October 15, 2008
U.S. Announces Capital Purchase Plan and Various Other Initiatives (Paul Weiss). 

Lehman Brothers Bankruptcy Update (Davis Polk & Wardwell). 

Emergency Economic Stabilization Act of 2008: US Government Capital Injections (Davis Polk & Wardwell). 

October 14, 2008
Iceland Regulators Establish New Glitner bank, fh. 

Treasury, Federal Reserve and FDIC Plan. 

Treasury Announces Executive Compensation Rules Under the Emergency Economic Stabilization Act. 

ICMA Regulatory Policy Newsletter. 

Cleary Gottlieb Financial Crisis Resource Website Page. 

Testimony of Robert Pickel, ISDA's Chief Executive Officer, Before the Senate Committee on Agriculture, Nutrition and Forestry. 

October 13, 2008
Second General License Granted Pursuant to HM Treasury Freezing Order 2008. 

Central Banks Expand Dollar Liquidity. 

October 10, 2008
From LMA: The Landsbanki Freezing Order 2008 (Clifford Chance). 

LSTA Week in Review. 

Temporary Capital Controls Introduced by Iceland. 

October 9, 2008
Iceland Regulators Establish New Landesbanki Íslands hf. 

Decision of the Financial Services Authority on the appointment of a Receivership Committee for Kaupthing bank hf. 

IRS Net Operating Loss Guidance to Banks (Baker Hostetler). 

General License Granted Pursuant to HM Treasury Freezing Order 2008. 

From LMA: Landsbanki Freezing Order (Ashurst). 

ICMA Regulatory News Update. 

October 8, 2008
The Landesbanki Freezing Order 2008 of HM Treasury. 

IRS Expands Short-Term Financing Exception to Section 956 (Baker & Hostetler). 

Lehman Brothers Bankruptcy Filings: Issues for Replacement Swap Counterparties and their Municipal Clients (Cadwalader, Wickersham & Taft). 

FRBNY Changes to SOMA Securities Lending Program. 

The Defaulting Lender in Today's Loan Market (Richards Kibbe & Orbe). 

October 7, 2008
Decision of the Financial Services Authority on the appointment of a Receivership Committee for Glitner bank hf. 

Federal Reserve Board Announces Creation of Commercial Paper Funding Facility (Davis Polk & Wardwell). 

From LSTA: Lehman Commercial Paper First Day Order. 

Treasury Solicits Asset Managers and Other Agents for Troubled Asset Relief Program (Davis Polk & Wardwell). 

October 6, 2008
Prime Minister’s Office Statement on Deposit Guarantee. 

Act No. 125/2008 on the Authority for Treasury Disbursements due to Unusual Financial Market Circumstances etc. 

Rescue Plan Becomes Law (Thompson & Knight). 

President Signs the Emergency Economic Stabilization Act of 2008 (Paul Weiss). 

From LSTA: Lehman Commercial Paper - First Day Motion. Lehman Brothers Update: Assessing Counterparty Credit Risk in the US Secondary Loan Market. 

ISDA Announces Successful Implementation of Fannie Mae, Freddie Mac CDS Protocol. 

October 4, 2008
Emergency Economic Stabilization Act of 2008 (Davis Polk & Wardwell). 

October 3, 2008
Lehman Brothers Bankruptcy Update (Davis Polk & Wardwell). 

Revised Bailout Plan With New Tax Provisions Passes Congress (Baker & Hostetler). 

Congress Finalizes Emergency Bailout Legislation (Cleary Gottlieb). 

SEC Extends Short Sale Emergency Orders (Davis Polk & Wardwell). 

LSTA Week in Review. 

SIFMA Action Alert - URGENT -- CALL CONGRESS NOW -- HOUSE VOTES TODAY. 

Lehman Notice Regarding the Ability to Continue to Close Open Loan Trades. 

Fannie Mae and Freddie Mac Credit Default Swap Settlement Protocol (Cadwalader, Wickersham & Taft). 

FDIC Deposit Insurance Coverage. 

October 2, 2008
The Proposed Troubled Asset Relief Program and the Emergency Economic Stabilization Act of 2008 (Cadwalader, Wickersham & Taft). 

ICMA Regulatory News Update. 

Lehman Brothers Bankruptcy Update (Davis Polk & Wardwell). 

Senate Approves Emergency Economic Stabilization Act; Attention Turns to the House of Representatives (Paul Weiss). 

October 1, 2008
Order Extending Emergency Order. 

SEC Statement Concerning Short Selling. 

Lehman Brothers Bankruptcy Update (Davis Polk & Wardwell). 

September 30, 2008
SEC Office of the Chief Accountant and FASB Staff Clarifications on Fair Value Accounting. 

From LMA: Special Note: Dealing with Lehman Brothers Companies in Administration (Clifford Chance). 

ISDA Launches Fannie Mae and Freddie Mac Protocol. 

September 29, 2008
Update: Congress Poised to Pass the "Emergency Economic Stabilization Act of 2008" Authorizing the Treasury Secretary to Purchase up to $700 Billion in Troubled Assets and For Other Purposes (Patton Boggs). 

Troubled Assets Relief Program: Q&A (Cleary Gottlieb). 

From LSTA: Update: Draft Legislation Regarding Treasury's Proposed Authority to Purchase Troubled Assets (Clifford Chance). 

New York State Insurance Department Issues Circular Letter Regarding Regulation of Credit Default Swaps (Cadwalader, Wickersham & Taft). 

EMTA Forum in Singapore to Be Held on October 23, 2008. 

September 28, 2008
Emergency Economic Stabilization Act of 2008 to establish TARP.  Summary, Legislative Language, Section-by Section Analysis. 

September 26, 2008
LSTA Week in Review. 

SIPC Trustee Reports on Progress of Lehman Brothers Inc. US Liquidation. 

FDIC Message Concerning Washington Mutual. 

September 25, 2008 

September 24, 2008
SEC Issues Emergency Rules on Short Selling, Short Position Reporting and Issuer Repurchases (Latham & Watkins). 

NYS Insurance Department Issues Circular Letter Regarding Regulation of Credit Default Swaps (Cadwalader, Wickersham & Taft). 

New York and SEC Move to Regulate Credit Default Swaps (Davis Polk & Wardwell). 

Notice Regarding Lehman Brothers, Inc. ("...effective immediately, the GSD has ceased to act for Lehman pursuant to GSD Rule 22.") (FICC). 

September 23, 2008
Press Release on Settlement Fails (SIFMA). 

Highlights of the Proposed Legislation to Implement the Treasury Department’s Bailout Plan (Cadwalader, Wickersham & Taft). 

Reference Guide to Credit Event Terminology (Derivatives Consulting Group). 

FRBNY Statement on Changes to Dealer Limits for SOMA Securities Lending Program. 

Fed Relaxes Traditional Control Rules for Private Equity and Other Minority Investments in Banks and Bank Holding Companies (Davis Polk & Wardwell). 

September 22, 2008
Lehman Brothers - Materials Relating to Derivative Transactions (Asia) and Lehman Brothers: Hong Kong Legal Issues and Update on Appointments (Allen & Overy). 

SEC Amends Short Sale Ban (Cleary Gottlieb). 

US Treasury Proposal Regarding Troubled Assets (Davis Polk & Wardwell). 

SEC Amends Order Temporarily Banning Short Sales of Financial Companies to Modify Scope of Covered Securities and Expand Exemption for Derivatives Market Makers (Davis Polk & Wardwell). 

SEC Amends Emergency Order Regarding Short Sale Reporting by Institutional Investment Managers (Paul Weiss). 

The Week That Was – A Perspective on the Week’s Unprecedented Market Turmoil and the U.S. Government’s Responses (Paul Weiss). 

New Short Sale Reporting Requirements (Davis Polk & Wardwell). 

September 21, 2008
Lehman Court Orders Outline Rights of Counterparties to Safe Harbored Financial Contracts (Cadwalader, Wickersham & Taft). 

SEC Amends Short Sale Emergency Order (Paul Weiss). 

September 19, 2008
LSTA Week in Review. 

NAUFOR (Russian National Association of Securities Market Participants) - Federal Financial Markets Service Prohibits Professional Securities Market Participants from Margin and Repo Transactions. 

SEC Takes Further Steps to Protect the U.S. Markets against Short Selling Abuses (Paul Weiss). 

ISDA Publishes First List of Deliverable Obligations for Fannie Mae, Freddie Mac. 

September 18, 2008
FAQs on ICMA Rules and Recommendations and the General Master Repurchase Agreement (GMRA) relating to Lehman Brothers situation on ICMA's website https://www.icmagroup.org/market_practice/legal1/faq.html

From LSTA: Update - Lehman Brothers Situation - United Kingdom and Europe
LMA Sub-Participation Agreements and Grantor Insolvency (Richards Kibbe & Orbe).  Dealings with Lehman Brothers Companies in Administration (LMA and Clifford Chance). 

Milbank Tweed Named Counsel to Lehman's Creditors' Committee. 

September 17, 2008
Information on Lehman and other Breaking Events (SIFMA). 

Lehman Brothers Holdings Inc. Bankruptcy Filing: Issues to Consider (REVISED) (Paul Weiss). 

Treasury Announces Supplementary Financing Program. 

Lehman Commercial Paper, Inc. Statement in Connection with its Role as Administrative Agent for Certain Credit Agreements (LSTA). 

September 16, 2008
From LSTA: Legal Update - Lehman Brothers 
Lehmans Files for Administration; What Happens Now? (Ashurst).  The "Second Risk" that Keeps Loan Participants Up at Night (Richards Kibbe & Orbe).  

ISDA Announces Further Step Toward Completion of Fannie Mae and Freddie Mac Protocol. 

September 15, 2008
FICC Notices Regarding Lehman. 

Lehman Brothers - Secondary Mark-to-Market Pricing (LSTA FAQ).  Lehman (LSTA FAQ). 

September 12, 2008
ISDA to Compile List of Fannie Mae, Freddie Mac Deliverable Obligations to Facilitate Smooth Settlement Process. 

September 8, 2008
ISDA to Publish Protocol for Fannie and Freddie. 

June 12, 2008
Assessing Counterparty Credit Risk (LSTA).