TY - JOUR T1 - LSTA and Risk Retention: <em>Efforts on the Hill and in the Courts</em> JF - The Journal of Structured Finance SP - 55 LP - 58 DO - 10.3905/jsf.2016.22.2.055 VL - 22 IS - 2 AU - Meredith Coffey Y1 - 2016/07/31 UR - https://pm-research.com/content/22/2/55.abstract N2 - 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 &amp; 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 ER -