On August 29, 2023, US federal banking regulators issued a proposal for long-term debt (“LTD”) requirements on certain midsize and larger US banking organizations (the “LTD Proposal”). The LTD Proposal is important because it would require many regional and larger banking organizations to issue significant amounts of LTD. In this Legal Update, we provide background
Certificate of Deposit Programs and Brokered CD Programs
February 24, 2023 Webinar
1:00 pm – 2:00 pm ET
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Mayer Brown panelists, Matt Bisanz and Brad Berman, will provide an overview of the documentation and other requirements to establish a certificate of deposit program or brokered certificate of deposit program. We will review the bank regulatory, distribution related, FINRA related, and
FINRA Releases 2023 Report on Its Examination and Risk Monitoring Program
On January 10, 2023, the Financial Industry Regulatory Authority, Inc. (“FINRA”) released its 2023 Report on FINRA’s Examination and Risk Monitoring Program (the “Report), available at: 2023 Report on FINRA’s Examination and Risk Monitoring Program. The Report details findings from FINRA’s recent oversight activities of the FINRA Member Supervision, Market Regulation and Enforcement programs.
Understanding Structured Debt and Private Convertibles
January 20, 2023 Webinar
12:00 pm – 1:00 pm ET
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2022 was a year marked by the market’s increasing preference for structured financing alternatives. During this session, panelists Syed Raj Imteaz and Anna Shearer of ICR Capital joined by Mayer Brown’s Anna Pinedo will discuss market trends within the structured debt and
Medium-Term Note Programs
July 12, 2022 Webinar
11:00 am – 12:30 pm ET
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Medium-term note (“MTN”) programs are continuous offering programs that allow issuers to offer debt securities in an efficient and expedited manner. MTN programs have unique documentation laid out at the launch, which differs from benchmark underwritten offerings. Most MTN programs have the
What’s the Deal? The Compendium. (2022 Update)
Well, What’s the Deal?
We updated our popular series and published a new compendium. It includes brief discussions in plain English on popular financing methodologies, securities law issues, and practice pointers. With over 170 pages of content, the compendium is available online now to print. See also the tab on the left.
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What’s the Deal? – Structured Certificates of Deposit
Structured certificates of deposit – they look and feel like structured notes, but there are important differences, and traps for the unwary. Are they securities, or not? How does a structured CD program differ from a medium-term note program? Read our new What’s the Deal? – Structured Certificates of Deposit guide to find the answers
MB Microtalk: SOFR Floating Rate Notes
In this MB Microtalk video, Mayer Brown counsel Brad Berman discusses Secured Overnight Financing Rate (“SOFR”) Floating Rate Notes. This brief video provides an overview and discusses the development of SOFR as a benchmark.
Visit our MB Microtalk page for more topics and talks.
Consent Solicitations: Challenging Orthodoxies
Is 100% consent of the holders required to change the interest rate of an outstanding LIBOR floating rate note? Many practitioners would say yes, but we examine another approach in our article “Consent Solicitations: Challenging Orthodoxies”, published in this month’s REVERSEinquiries newsletter.
What’s the Deal? Medium-Term Note Programs
Medium-term note (“MTN”) programs enable companies to offer and sell a wide range of debt securities, which may have similar or different terms, on a periodic and/or continuous basis, by using pre-agreed offering and distribution documents and a simplified clearing process. With an MTN program, the issuer is able to use streamlined documentation for each