United States: Fund Finance

On March 19, 2026, the federal banking agencies issued a package of proposed changes to the regulatory capital requirements for banking institutions of all sizes, from the largest GSIBs and super-regional banks to community banks. This package of proposals (the “Proposed Rules”) is a second full attempt at implementing the 2017 “Basel III Endgame” international framework—following the agencies’ initial package of proposals in July 2023 (the “2023 NPR”)—to better reflect credit, trading and operational risk in the calculation of regulatory capital ratios.

Lately, all eyes seem to be on evergreen funds. Among private credit funds, they have emerged as one of the hottest fund formats in recent years – but despite their growing popularity...

The Investment Company Institute recently published a white paper detailing operational, governance, and disclosure considerations for industry stakeholders in implementing a structure...