And so we find ourselves at the end of Q1 already. You can tell the LMA and Scott have been flat out and are ready for an Easter break – not just by the sheer amount of stuff we’ve done, but by the fact Scott has made this monthly update a Chief of Staff takeover.
In my former life as an in-house lawyer, I had to circulate a quarterly regulatory update to thousands of colleagues. Whilst I did my best to make it engaging, a boatload of questionable musical puns will only get you so far. Happily, the LMA monthly note is a lot easier to turn into a compelling read, no wordplay required.
Despite the ongoing market and geopolitical volatility, we remain confident about the overall robustness of our markets; not just today, but well into the future. If you can spare us 10 minutes, please complete our 30th Anniversary Survey, which looks ahead to the loan markets in the decades to come.
Events
March saw us sandwiched between new flagship events. Having delivered the LMA-ICMA Africa Summit and LMA Edge in February (you can read the conference report here), we are now looking ahead to focusing on CLOs and Private Credit in Tokyo (April) and our inaugural Fund Finance Conference (May).
Does that mean we rested on our laurels? Not quite… March saw much cross-collaboration with our sister organisations, with Scott attending the APLMA Conference in Hong Kong, and the London leg of the joint LMA/LSTA conference (a timely event given the focus on leveraged finance and private credit!).
Oh, and we delivered a secondary training day which was so popular, we’re running it again later this year.
Regional and other updates
Middle East
In March, despite the current market developments in the region, our Middle East Committee convened for a constructive discussion on emerging themes shaping regional lending activity. We also continued our engagement with GCC regulators, advanced several technical workstreams, and launched a member survey to deepen our understanding of priorities across the banking community.
April will be no less busy; the Committee will meet again, the inaugural sessions of both the Documentation Working Group and the Primary & Secondary Working Group will take place, and a Middle East Agency Playbook roundtable is scheduled. If you want to get involved, please email middleeast@lma.eu.com.
Public Policy & Regulatory Affairs
Meanwhile, our Public Policy & Regulatory Affairs team have barely stopped these past few months, with plenty more on the horizon. Monthly Regulatory Insights Newsletter and Scanner? Check. Member briefing calls? Check. Roundtables in Brussels and London on everything from CRD VI to private credit to securitisation? Also check. Oh, and responses to consultations ranging from SFDR to UK benchmarks to securitisation? Check, check aaaaaand check.
We’re always grateful to you, our membership for your engagement on all these initiatives, helping us to cover both technical content and market perspectives. If you want to get involved in April events, you can register for a Regulatory Evening Seminar in Brussels here and our next briefing call here.
Technology and AI
And it wouldn’t be a 2026 update without a mention of technology and AI. The potential for the loan markets to modernise in the truly digital age is immense. However, we need to do so in a measured, scalable and intentional way. Which is why we’re delighted that March saw the inaugural LMA Tech & Innovation Committee meeting. With the help of that group, we’re building knowledge (across our membership, policymakers and tech providers), engaging in regulatory developments, and ensuring we’re at the forefront of the discussions and debate where the loan markets are concerned. Watch this space…
Finally, a word on AI in relation to our docs – it’s 2026, we get it. Most of you now use LLMs and other AI tools within your organisations (as do we). However, if you are going to put LMA documents or templates into those tools, you must first get our written consent. We rarely say no, assuming you have the right controls in place to prevent access from outside your institution. However, we need to keep track of which tools our IP is being run through, and assess the tool’s security and a few other aspects. Please email LMADocs@lma.eu.com for more information and to obtain consent.
Communications
We’ve also been busy pulling together plenty of content for you to digest on your commutes:
- The Spring edition of our latest Horizons publication is live. It has you covered for key sustainability insights into the loan markets;
- The March edition of Fund Finance Insights touches on the topical subject of evergreen funds;
- If you couldn’t make it to our tech and innovation focused event, LMA Edge, in February never fear – you can read a recap of the lively discussions in our event report; and
- If you operate in the CEE region, take a look at our 2026 market outlook.
Finally, a shout-out to the FutureLenders podcast series, hosted and organised by our Junior Board. You can hear from a mix of both seasoned market professionals and those closer to the start of their careers. Thank you to Gregor Bamert for sharing his insights in the latest episode.
To stay informed on all LMA activities, subscribe to our monthly update to receive the newsletter. We also now offer dedicated editions covering Technology, the Middle East and Regulations, with Operations and Agency coming soon.
Membership
A huge thank you to the vast majority of our members who have renewed their membership for 2026. If you haven’t yet renewed, make sure you reach out to our membership team so that you don’t lose access to LMA resources (email lma@lma.eu.com). We have welcomed 32 new members so far this year – keep an eye out for LMA Connect in April, to see who our latest members are.
Closing
No doubt Q2 will bring more activity for both the markets and the LMA. We know you are all extremely busy, wherever you sit in the loan market ecosystem, and whatever your role. We remain hugely grateful for your input and work alongside us, and look forward to seeing more of you after the Easter break.
Emma Norman
Chief of Staff
Loan Market Association
