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.