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The Loan Market Association (LMA) has published the results of its membership survey on the outlook for the
syndicated loan market in 2020. Members consider that the global economy and/or geopolitical risks including Brexit are the factors most likely to influence the market in 2020. They also consider that refinancing will provide the best opportunities
and that volumes in Europe, the Middle East and Africa will remain largely unchanged.
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The Working Group on Sterling Risk-Free Reference Rates (RFRs) has published its monthly newsletter providing updates of key news on RFR transition across UK and international markets. The Working Group has announced the mobilisation of three new task forces in the newsletter—the
tough legacy task force, the cash market legacy transition task force and the loans flow enablers task force. The Financial Conduct Authority has also published a Q&A statement to manage conduct risk during the London Inter-bank Offered Rate (LIBOR) transition. The newsletter also
stated that the Financial Stability Board’s Official Sector Steering Board published a letter sent to the International
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