In its 2020 annual report, the Structured Finance Association ("SFA") reviewed its government affairs record in 2020 and highlighted the LIBOR transition as a continuing priority for 2021. The SFA said it was looking forward to working with Congress and the Biden administration to prioritize how best to facilitate shifting away from LIBOR toward a new benchmark rate. The SFA said it would also continue its government affairs efforts on diversity and inclusion, affordable housing, and environmental, social and governance ("ESG") issuance in the 117th Congress.
Looking back, the Association noted its:
- advocacy for the Term Asset-Backed Securities Loan Facility when the COVID-19 pandemic threatened financial market liquidity;
- advancement of ESG issuance through "workstreams" that focus on reporting and data standardization and the establishment of best practices to build a more consistent reporting framework;
- opposition to the reform of government-sponsored enterprises ("GSEs") that would have released the GSEs from conservatorship; and
- coordination with European markets to clarify EU transparency and the disclosure requirements of non-EU deals.
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