RT Journal Article SR Electronic T1 LSTA and Risk Retention: Efforts on the Hill and in the Courts JF The Journal of Structured Finance FD Institutional Investor Journals SP 55 OP 58 DO 10.3905/jsf.2016.22.2.055 VO 22 IS 2 A1 Meredith Coffey YR 2016 UL https://pm-research.com/content/22/2/55.abstract AB 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