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Market Structure & Dynamics (2)

Market Structure and Dynamics

Regularly reviewing our market structure, processes and dynamics is a key component to achieving SFA’s mission of promoting a robust, liquid and healthy structured finance market as it grows and adapts to the consumers and businesses it supports.

BondholderCommunication-1

Overview

It may surprise policymakers and regulators, as well as even some market participants, to know that it is currently very difficult – and sometimes impossible – for bondholders to communicate with the companies that issued the securities they own or for bondholders who own the same security to communicate with one another.

The current system is so unreliable that when evaluating potential solutions for the transition away from LIBOR, one of our financial markets’ most serious risk today, market participants view the option of soliciting bondholder consent for an amendment as largely unfeasible.

Publications & Resources

On May 12, 2025, the SFA responded to the OMB’s RFI on Deregulation.
On May 12, 2025, SFA submitted a response to the OMB’s RFI on Deregulation pertaining to certain CFTC regulations.
Dr. W. Scott Frame’s latest blog discusses the significant growth of private credit, which now holds over $1.7 trillion in assets under management. This expansion has drawn attention from the Federal Reserve (2023) and International Monetary Fund (2024), given their…
Dr. W. Scott Frame, SFA’s Chief Economist & Head of Policy, explores how U.S. banks are increasingly using synthetic securitization to allocate regulatory capital more efficiently by transferring credit risk to outside investors through the issuance of credit-linked notes. Frame…

News