eprintid: 10140334
rev_number: 23
eprint_status: archive
userid: 608
dir: disk0/10/14/03/34
datestamp: 2021-12-14 12:41:32
lastmod: 2023-03-03 14:34:39
status_changed: 2021-12-14 12:41:32
type: article
metadata_visibility: show
creators_name: Penn, Graham
title: Promoting Liquidity in the Secondary Loan Market: Is Sub-Participation Still Fit for Purpose?
ispublished: pub
divisions: UCL
divisions: B03
divisions: C02
note: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
abstract: One of the most innovative features of the international syndicated loan market, almost since its inception, has been the transformation from loan assets which are held, historically by banks, until maturity, to the creation of assets which are highly liquid and tradeable as if they were securities. The various techniques deployed by market participants to achieve such liquidity and transferability, and attempts by borrowers to restrict it, have been subject to almost constant change. This article will consider whether recent developments in the market, specifically with reference to sub-participations, are now inhibiting liquidity and transferability.
date: 2022-02-23
date_type: published
official_url: https://www.sweetandmaxwell.co.uk/Product/Banking-AND-Financial-Services/Journal-of-International-Banking-Law-AND-Regulation/Journal/30791387#okay-to-continue
oa_status: green
full_text_type: other
language: eng
primo: open
primo_central: open_green
verified: verified_manual
elements_id: 1910006
lyricists_name: Penn, Graham
lyricists_id: GAPEN15
actors_name: Penn, Graham
actors_id: GAPEN15
actors_role: owner
full_text_status: public
publication: Journal of International Banking Law and Regulation
volume: 37
number: 3
pagerange: 85-102
editors_name: Penn, G
citation:        Penn, Graham;      (2022)    Promoting Liquidity in the Secondary Loan Market: Is Sub-Participation Still Fit for Purpose?                   Journal of International Banking Law and Regulation , 37  (3)   pp. 85-102.          Green open access   
 
document_url: https://discovery.ucl.ac.uk/id/eprint/10140334/1/PROMOTING%20LIQUIDITY%20IN%20THE%20SECONDARY%20LOAN%20MARKET%20IS%20SUB-PARTICIPATION%20STILL%20FIT%20FOR%20PURPOSE%20%28SUBMITTED%20WITH%20HEADER%29.pdf