@article {Coffey55, author = {Meredith Coffey}, title = {LSTA and Risk Retention: Efforts on the Hill and in the Courts }, volume = {22}, number = {2}, pages = {55--58}, year = {2016}, doi = {10.3905/jsf.2016.22.2.055}, publisher = {Institutional Investor Journals Umbrella}, abstract = {The U.S. Risk Retention Rule was published on December 24, 2016, leaving the industry two years to prepare for its implementation for open-market collateralized loan obligations (CLOs). Unfortunately, risk retention simply does not work for open-market CLOs. Notwithstanding the poor fit, market practitioners have spent the past 18 months trying to figure out a way to make CLOs fit the risk retention rules. In contrast, the Loan Syndications \& Trading Association has spent the last 18 months attempting to find a way to make risk retention better fit CLOs. This article recaps the efforts, both on Capitol Hill and in the Courts, to create a better fit.TOPICS: CLOs, CDOs, and other structured credit, legal/regulatory/public policy, credit risk management}, issn = {1551-9783}, URL = {https://jsf.pm-research.com/content/22/2/55}, eprint = {https://jsf.pm-research.com/content/22/2/55.full.pdf}, journal = {The Journal of Structured Finance} }