Treasury approves JMLSG Chapter 17 changes

Treasury has approved revisions to Chapter 17 of Part 2 of the JMLSG guidance. The chapter covers syndicated lending, and has been rewritten by the Loan Market Association. Among the changes are content that:

• explains who the “customer” is in a tri-partite arrangement;
• looks at the role of the agent and its relationship with the buyer; and
• when a borrower may become a customer of a buyer in the secondary market.