NYDFS Issues Pre-Proposed Rules To Implement New Commercial Financing Disclosure Law

The New York Department of Financial Services (NYDFS) has issued “pre-proposed” rules under New York’s commercial financing disclosure law that was enacted at the end of 2020. The pre-proposed rules are 45 pages long and were posted on the NYDFS website on September 21. Comments on the pre-proposed rules are due by October 1. There will be a longer comment period once a proposed rule is published in the State Register. The NYDFS aims to finalize the […]

By | September 29th, 2021 ||

Kamaraju Joins IIB Bank Talk Podcast To Discuss The Impact Of Magnitsky Act Sanctions On Banking

The Institute of International Bankers’ Bank Talk podcast welcomed Partner Sid Kamaraju to its program to discuss the nuances and ramifications caused by Magnitsky Act sanctions. Sid joined a conversation with the IIB’s Director of Strategic Communications, Meghan Milloy, Lisa Prager, General Counsel and Executive Vice-President at Agricultural Bank of China, and Josh Shrager, Senior Vice President at Kharon. They discuss Magnitsky Act sanctions, complications for foreign banks, and solutions thereof.

Listen in below:

By | September 28th, 2021 ||

LIBOR Transition: The First Syndicated SOFR Loan Is Here!

Ford Motor Co. announced in June their intention to refinance $15.4 billion in syndicated facilities – and at least some of them on SOFR. With all eyes on what would be the first syndicated U.S. corporate loan tied to regulators’ preferred LIBOR replacement, Ford formally launched the deal this month. Bloomberg reported that there are three revolver tranches that Ford is refinancing (with JPMorgan Chase & Co. leading the loan process): a $3.35 billion three-year portion, […]

By | September 27th, 2021 ||