The Loan Market Association (LMA) in conjunction with the Lloyd's Market Association and the International Underwriting Association has published a model form of Credit Risk Insurance Policy (CRI Policy). The CRI Policy is drafted: for the purposes of insuring single borrower credit risk arising from a loan agreement; and with a view to the CRR requirements for unfunded credit protection. Please note these documents are only available to LMA members.

The Lloyd's Market Association’s (LMA) Terrorism & Political Violence Underwriting Committee has produced ‘LMA3167 Terrorism Liability Insurance Policy (claims made and notified)’ for use on international (non-US) risks. A US version will be produced and published in 2023. The illustrative clauses are distributed for the guidance of Lloyd's managing agents, brokers and other market participants.

The Loan Market Association (LMA) has sent an email to its subscribers announcing the publication of a new Erroneous Payment Clause, in light of concerns raised from European loan market participants as a result of the Revlon syndicated loan dispute in which an erroneous payment of US $900m was made. The LMA has specified that it makes no recommendation as to whether or when the clause should be included, though it notes that it is only suitable for inclusion when it represents the commercial agreement.

The Loan Market Association (LMA) has published a guidance note on untied Export Credit Agency (ECA) financing and updated buyer credit documentation. The growth of the export finance market has changed market dynamics, this has resulted in the growing importance of ECAs in reducing strategic dependency risks and the green transition, changes to the Organisation for Economic Co-operation and Development (OECD) Consensus on Export Credits and ECAs expanding their support beyond their traditional remit.

The Lloyd's Market Association (LMA) has published the new model consumer sanctions suspension clause (LMA3201) which replaces LMA5213. All LMA model wordings containing LMA5213 have been updated with LMA3201 and given updated reference numbers.

The Lloyd’s Market Association (LMA) has published two new sanctions clauses, LMA3100A and LMA3200. Since September 2022, the LMA has been consulting with the industry, sanctions specialists and regulators in several jurisdictions on refining its extensively adopted sanctions clause LMA3100. These updates are designed to provide enhanced options for underwriters dealing with sanctions across jurisdictions.

The Lloyd's Market Association (LMA) Onshore Energy Business Panel has published a new model clause, the Business Interruption Volatility Clause.

The Loan Market Association (LMA) has announced that it has been reviewing the implications of the obiter comments in the English court decision in Macdonald Hotels v Bank of Scotland [2025] EWHC 32 (Comm) which questioned whether a particular form of testimonium clause (similar to LMA's recommended forms of intercreditor agreement) adequately satisfied the requirement under English law that deed must, on its face, clearly state that it is intended to take effect as a deed. Concurrently, the LMA has welcomed a memorandum from the Financial Law Committee of the City of London Law Society (CLLS) that endorses the adequacy of its intercreditor documentation. As a result, the LMA has confirmed that it will not amend the testimonium provision in its current documentation.

The Loan Market Association (LMA) has published a note examining jurisdiction clauses and the enforcement of judgments in Europe, with particular focus on its English law and German law facility documentation. The note considers the Court of Justice of the European Union's ruling in Società Italiana Lastre SpA v Agora Sarl Case C-537/23 and uncertainty over its implications for asymmetric jurisdiction clauses designating English and other non-EU/non-Lugano courts, as well as judgments issued under those clauses. It outlines amendments to LMA German law facility documentation published on 5 September 2025 to address the ruling's direct implications and provides illustrative drafting for a modified asymmetric jurisdiction clause designating English courts, where local law advice identifies risks that this approach could mitigate. The note also summarises dispute resolution options across LMA facility documents, including arbitration.

The Loan Market Association (LMA) has published a note outlining the documentary implications for the replacement of TARGET2. TARGET2 is the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which is due to be succeeded in March 2023 by a new real-time gross settlement system (to be called T2). The LMA’s facility documentation provides that a 'Business Day' must, in relation to any date for payment or purchase of euro, be a 'TARGET Day' which is a day on which TARGET2 is open for the settlement of payments in euro. The documents are available on the LMA website to members only.

The Loan Market Association (LMA), in collaboration with the LMA Technology & Innovation Committee and Murex, has published ‘The Interoperability Imperative’, a paper examining how improved interoperability could support the development of next-generation loan market infrastructure. The paper considers the operational challenges arising from fragmented systems, inconsistent data models and manual processes as the syndicated loan market grows in scale and complexity. It explores the role of interoperability in enabling more reliable data exchange while preserving the flexibility of loan products, and examines initiatives including shared standards, common taxonomies, standardised lifecycle events and a universal loan identifier. The paper also considers the potential benefits of improved interoperability, including greater straight-through processing, enhanced risk aggregation, increased operational resilience and AI-enabled analysis, and encourages industry collaboration to support a more connected and efficient European loan market.

The Loan Market Association (LMA) has published the practice note for the assessment of pure play companies (PPCs). The practice note provides a framework to assist market participants in identifying and assessing PPCs whose business activities are primarily focused on environmental or social objectives. It aims to promote consistency, transparency and integrity in the treatment of PPCs within sustainable finance transactions. Under the framework, a company may be designated as a PPC where at least 90% of its revenue or assets, or another appropriate metric, are derived from eligible green or social activities. The framework also includes environmental and social safeguards and allows for the use of alternative metrics depending on a company's business model and stage of development. Annual reassessment and disclosure are expected to support continued PPC status throughout the life of a transaction.