{"id":47059,"date":"2016-06-03T12:22:56","date_gmt":"2016-06-03T16:22:56","guid":{"rendered":"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/"},"modified":"2024-04-12T12:53:43","modified_gmt":"2024-04-12T16:53:43","slug":"better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency","status":"publish","type":[3762],"link":"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/","title":{"rendered":"A better solution for identifying syndicated loans? The FIGI ID system provides consistency and transparency"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <style>section[data-anchor=row-6a094e6774913]::before {\n\t\t\t\tbackground-color: #eeeeee;\n\t\t\t}<\/style>\n    <section class=\"bbg-row bg--custom-color  bg--eeeeee text--black bbg-row--full-bg-bleed\" data-anchor='row-6a094e6774913'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--valign-bottom\"\n    style=\"\"\n    >\n    <p>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/financial-services\/\" rel=\"category tag\">\n                    Financial Services\n                <\/a>\n            <\/li>\n            <\/ul>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 24px !important\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">A better solution for identifying syndicated loans? The FIGI ID system provides consistency and transparency<\/h1>\n<\/p>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a094e677a976'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer\"\n        style=\"height: 40px !important\"\n    >\n<\/div>    <p class=\"bbg-metadata bbg-metadata--date\">June 3, 2016<\/p>\n<\/p>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none bbg-row--full-bg-bleed\" data-anchor='row-6a094e677c41b'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><em>This article is by Mark Betteridge, Global Product Manager for Loans and Capital Structure Analysis Tools at Bloomberg. It appeared first on www.abfjournal.com.<\/em><\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>For investors in the primary syndicated loans market, getting insight into what deals are underway can be the difference between a win and a missed opportunity. In addition, for those financial institutions repackaging syndicated loans off-balance-sheet into collateralized loan obligations (CLOs), time and accuracy of the data are of the essence.<\/p>\n<p>To date, lenders have struggled to stay ahead on both fronts because of inconsistent information about the syndicated loan and CLO markets across institutions, and even single transactions. Today, new technologies and methodologies for identifying syndicated loans are available to lessen the administrative complexities of monitoring and tracking these deals.<\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong>A closer look at the market for syndicated loans<\/strong><\/p>\n<p>According to data from Bloomberg, the size of the global market for active syndicated loans was estimated at $13.6 trillion at the end of 2015, with more than 50,000 syndicated loans for more than 40,000 unique borrowers. Despite the market\u2019s size, the absence of a universal global identifier for tracking syndicated loans makes it difficult for lenders to monitor them with enough lead-time to engage book-runners and participate in deals. When these loans are repackaged or assembled into CLOs, the lack of a universally accepted way to identify these deals can make it difficult to compare the underlying loans within the CLOs.<\/p>\n<p>Loan identification and tracking becomes more complex once they are traded on the secondary market, or repackaged into CLOs. With the market for CLOs approaching $45 billion in the U.S. this year, according to estimates from Bank of America Merrill Lynch, the challenges investors face tracking and comparing loans in the secondary market becomes more concerning. The lack of a unique global identifier to help track deals also presents an issue for end-investors in CLOs who are trying to compare the relative performance of the CLOs they own. In the absence of a standard identifier, loans can be reported using different names (legal entity, brand name, etc.). For example, the same loan for Toys \u201cR\u201d Us could be found under no fewer than 16 different IDs, including TOY; TOYS; TOYS &#8220;R&#8221; US-DEL, INC.; and TOYS R US DELAWARE. Some organizations are adopting a new standard practice for identifying syndicated loans that could alleviate this confusion.<\/p>\n<p><strong>Testing out the FIGI standard in the CLO market<\/strong><\/p>\n<p>In the spring of last year, U.S. Bank became the first corporate trustee operating within the CLO market to attempt to solve the identity crisis inherent in the syndicated loans market by adopting the Financial Instrument Global Identifier (FIGI). As an international open data standard available to anyone, FIGI serves to identify any financial instrument, including syndicated loans with no attached costs and no restrictions on use and redistribution.<\/p>\n<p>This meant that U.S. Bank was able to display the FIGI across all loans in their CLO reports, unifying disparate symbologies with a single identifier that could be created at an instrument\u2019s inception and maintained throughout its life. This reduces the potential for confusion and inefficiencies. In addition, the use of the FIGI in U.S. Bank\u2019s CLO reports allows investors to have consistent communication and greater transparency into what they are holding in any given CLO investment.<\/p>\n<p><strong>How the FIGI works with syndicated loans<\/strong><\/p>\n<p>The FIGI symbology\u2019s strength lies in the metadata of which it is composed, which is publicly accessible and, in the case of syndicated loans, contains details about the size, currency, maturity and primary legal entity borrower.<\/p>\n<p>In addition to utilizing metadata, another area where the FIGI differs from the existing universe of classification systems is that it does not change throughout its lifespan. Whereas a bond can be issued in a matter of hours, syndicated loans typically take four-to-six weeks to come to market, from announcement to allocation. During that time, investors often use \u201cdummy IDs\u201d while reviewing the deal, through the allocation process, and often even during the initial secondary market trading. In the past, some identifiers were only assigned to loans once a deal was allocated, often leaving traders and closing desks in limbo for days, and in some cases even weeks, creating operational risk for settlement teams. Conversely, a FIGI can be assigned earlier in the lifecycle of a loan.<\/p>\n<p>As the Registration Authority (RA) for the FIGI under the auspices of the Object Management Group (OMG), an industry standards organization, Bloomberg issues a unique FIGI for each loan approximately three weeks before closing and allocation. A lender, or an arranger, can also request a FIGI prior to, or as part of, the syndication process. In either case, the assigned FIGI is available for the duration of the instrument\u2019s life, eliminating the need for temporary \u201cdummy IDs\u201d. From the investor perspective, this simplifies and streamlines internal data management processes, improves data quality, and the ability to monitor loans at all stages of the lifecycle.<\/p>\n<p>The final benefit is in the permanence of FIGI. It will never change throughout the life of the loan, and will never be reused, providing an unchanging historical reference point from creation, through the lifecycle, and remaining even after it ceases to trade in the marketplace.<\/p>\n<p><strong>The inevitable evolution of syndicated loan IDs<\/strong><\/p>\n<p>The adoption of a universal global identifier for syndicated loans and other instruments can only bode well for enhancing transparency across the financial markets and providing investors with easier access to more accurate descriptive data and pricing. Beyond U.S. Bank, Deutsche Bank and State Street Global Advisors are also among the major institutions that have adopted the FIGI. Financial technology firms are also integrating FIGI into their systems. Virtus Partners, a leading provider of tailored fixed-income services, adopted FIGI for loans and other credit-based structures in October of 2015.<\/p>\n<p>The FIGI standard is growing in adoption across the financial services sector. To-date, more than 300 million FIGIs have been assigned and investors requesting their inclusion in prospectuses and other reporting documents. The FIGI, and the metadata that comes with it, can help banks and other investors in the syndicated loans market streamline internal workflows and investment process as well as improve overall data quality, external reporting and communication with market participants.<\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><em>Used with permission of ABF Journal Copyright\u00a9 2016. All rights reserved.<\/em><\/p>\n\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <style>section[data-anchor=row-6a094e677ed9d]::before {\n\t\t\t\tbackground-color: #eeeeee;\n\t\t\t}<\/style>\n    <section class=\"bbg-row bg--custom-color  bg--eeeeee text--black bbg-row--full-bg-bleed\" data-anchor='row-6a094e677ed9d'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>Recommended for you<\/h2>\n\n<\/div>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 24px !important\"\n    >\n<\/div><script>\n    window.feed = window.feed || {};\n    window.feed['6a094e6781ad0'] = {\"config\":{\"uuid\":\"\",\"title\":\"\",\"filter_label\":\"\",\"post_type\":\"post\",\"order_by\":\"date\",\"direction\":\"desc\",\"show_date\":\"no\",\"show_excerpt\":\"no\",\"display\":\"limit\",\"filter\":\"OR\",\"max_items\":\"3\",\"skip_cache\":\"no\",\"feed_style\":\"grid\",\"published_date\":\"\",\"show_cta\":\"\",\"featured_image\":\"yes\",\"el_class\":\"\",\"terms_post\":\"\",\"terms_page\":\"\",\"terms_attachment\":\"\",\"terms_webinar\":\"\",\"terms_bbmegamenu\":\"\",\"terms_directory\":\"\",\"terms_datalayer\":\"\",\"terms_templatera\":\"\",\"terms_bbg-fourofour\":\"\",\"terms_reusable\":\"\",\"terms_cookie_items\":\"\",\"terms_bbl_email_subscriber\":\"\",\"terms_dynamic_table_ticker\":\"\",\"terms_bfix\":\"\",\"terms_quicklinks\":\"\",\"terms_interstitial\":\"\",\"terms_slide\":\"\",\"terms_gated_content_form\":\"\",\"terms_site_alert\":\"\",\"terms_country\":\"\",\"terms_region\":\"\",\"terms\":\"\"},\"cpt\":{\"name\":\"post\",\"label\":\"Posts\",\"labels\":{\"name\":\"Posts\",\"singular_name\":\"Post\",\"add_new\":\"Add New\",\"add_new_item\":\"Add New Post\",\"edit_item\":\"Edit Post\",\"new_item\":\"New Post\",\"view_item\":\"View Post\",\"view_items\":\"View Posts\",\"search_items\":\"Search Posts\",\"not_found\":\"No posts found.\",\"not_found_in_trash\":\"No posts found in Trash.\",\"parent_item_colon\":null,\"all_items\":\"All Posts\",\"archives\":\"Post Archives\",\"attributes\":\"Post Attributes\",\"insert_into_item\":\"Insert into post\",\"uploaded_to_this_item\":\"Uploaded to this post\",\"featured_image\":\"Featured image\",\"set_featured_image\":\"Set featured image\",\"remove_featured_image\":\"Remove featured image\",\"use_featured_image\":\"Use as featured image\",\"filter_items_list\":\"Filter posts list\",\"filter_by_date\":\"Filter by date\",\"items_list_navigation\":\"Posts list navigation\",\"items_list\":\"Posts list\",\"item_published\":\"Post published.\",\"item_published_privately\":\"Post published privately.\",\"item_reverted_to_draft\":\"Post reverted to draft.\",\"item_trashed\":\"Post trashed.\",\"item_scheduled\":\"Post scheduled.\",\"item_updated\":\"Post updated.\",\"item_link\":\"Post Link\",\"item_link_description\":\"A link to a post.\",\"menu_name\":\"Posts\",\"name_admin_bar\":\"Post\"},\"description\":\"\",\"public\":true,\"hierarchical\":false,\"exclude_from_search\":false,\"publicly_queryable\":true,\"show_ui\":true,\"show_in_menu\":true,\"show_in_nav_menus\":true,\"show_in_admin_bar\":true,\"menu_position\":5,\"menu_icon\":\"dashicons-admin-post\",\"capability_type\":\"post\",\"map_meta_cap\":true,\"register_meta_box_cb\":null,\"taxonomies\":[],\"has_archive\":false,\"query_var\":false,\"can_export\":true,\"delete_with_user\":true,\"template\":[],\"template_lock\":false,\"_builtin\":true,\"_edit_link\":\"post.php?post=%d\",\"cap\":{\"edit_post\":\"edit_post\",\"read_post\":\"read_post\",\"delete_post\":\"delete_post\",\"edit_posts\":\"edit_posts\",\"edit_others_posts\":\"edit_others_posts\",\"delete_posts\":\"delete_posts\",\"publish_posts\":\"publish_posts\",\"read_private_posts\":\"read_private_posts\",\"read\":\"read\",\"delete_private_posts\":\"delete_private_posts\",\"delete_published_posts\":\"delete_published_posts\",\"delete_others_posts\":\"delete_others_posts\",\"edit_private_posts\":\"edit_private_posts\",\"edit_published_posts\":\"edit_published_posts\",\"create_posts\":\"edit_posts\"},\"rewrite\":false,\"show_in_rest\":true,\"rest_base\":\"posts\",\"rest_namespace\":\"wp\\\/v2\",\"rest_controller_class\":\"WP_REST_Posts_Controller\",\"rest_controller\":{},\"revisions_rest_controller_class\":false,\"revisions_rest_controller\":{},\"autosave_rest_controller_class\":false,\"autosave_rest_controller\":{},\"late_route_registration\":false},\"taxonomies\":[{\"taxonomy\":\"post_format\",\"terms\":[{\"term_id\":33,\"name\":\"Link\",\"slug\":\"post-format-link\",\"term_group\":0,\"term_taxonomy_id\":33,\"taxonomy\":\"post_format\",\"description\":\"\",\"parent\":0,\"count\":12,\"filter\":\"raw\"},{\"term_id\":666,\"name\":\"Link\",\"slug\":\"post-format-link\",\"term_group\":0,\"term_taxonomy_id\":666,\"taxonomy\":\"post_format\",\"description\":\"\",\"parent\":0,\"count\":2,\"filter\":\"raw\"}]},{\"taxonomy\":\"post_series\",\"terms\":{\"0\":{\"term_id\":3751,\"name\":\"Asia Centric\",\"slug\":\"asia-centric\",\"term_group\":0,\"term_taxonomy_id\":3751,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":51,\"filter\":\"raw\"},\"1\":{\"term_id\":3741,\"name\":\"Bloomberg Expert Access\",\"slug\":\"bloomberg-expert-access\",\"term_group\":0,\"term_taxonomy_id\":3741,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":10,\"filter\":\"raw\"},\"2\":{\"term_id\":3739,\"name\":\"Bloomberg Pro Tips\",\"slug\":\"bloomberg-pro-tips\",\"term_group\":0,\"term_taxonomy_id\":3739,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":59,\"filter\":\"raw\"},\"4\":{\"term_id\":3743,\"name\":\"Functions for the Market\",\"slug\":\"ffm\",\"term_group\":0,\"term_taxonomy_id\":3743,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":7,\"filter\":\"raw\"},\"5\":{\"term_id\":3770,\"name\":\"Market Dialogues\",\"slug\":\"market-dialogues\",\"term_group\":0,\"term_taxonomy_id\":3770,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":11,\"filter\":\"raw\"},\"6\":{\"term_id\":3742,\"name\":\"Need to Know\",\"slug\":\"need-to-know\",\"term_group\":0,\"term_taxonomy_id\":3742,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":15,\"filter\":\"raw\"},\"7\":{\"term_id\":3798,\"name\":\"Pricing Insights\",\"slug\":\"pricing-insights\",\"term_group\":0,\"term_taxonomy_id\":3798,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":6,\"filter\":\"raw\"},\"8\":{\"term_id\":3740,\"name\":\"Terminal Essentials\",\"slug\":\"terminal-essentials\",\"term_group\":0,\"term_taxonomy_id\":3740,\"taxonomy\":\"post_series\",\"description\":\"\",\"parent\":0,\"count\":6,\"filter\":\"raw\"}}},{\"taxonomy\":\"type\",\"terms\":{\"0\":{\"term_id\":3762,\"name\":\"Article\",\"slug\":\"article\",\"term_group\":0,\"term_taxonomy_id\":3762,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":1646,\"filter\":\"raw\"},\"1\":{\"term_id\":3763,\"name\":\"Case Study\",\"slug\":\"case-study\",\"term_group\":0,\"term_taxonomy_id\":3763,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":41,\"filter\":\"raw\"},\"3\":{\"term_id\":3765,\"name\":\"Podcast\",\"slug\":\"podcast\",\"term_group\":0,\"term_taxonomy_id\":3765,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":504,\"filter\":\"raw\"},\"4\":{\"term_id\":3815,\"name\":\"Press Release\",\"slug\":\"press-release\",\"term_group\":0,\"term_taxonomy_id\":3815,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":81,\"filter\":\"raw\"},\"5\":{\"term_id\":3766,\"name\":\"Q&amp;A\",\"slug\":\"qa\",\"term_group\":0,\"term_taxonomy_id\":3766,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":101,\"filter\":\"raw\"},\"6\":{\"term_id\":3767,\"name\":\"Report\",\"slug\":\"report\",\"term_group\":0,\"term_taxonomy_id\":3767,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":78,\"filter\":\"raw\"},\"8\":{\"term_id\":3768,\"name\":\"Video\",\"slug\":\"video\",\"term_group\":0,\"term_taxonomy_id\":3768,\"taxonomy\":\"type\",\"description\":\"\",\"parent\":0,\"count\":135,\"filter\":\"raw\"}}}],\"excluded_taxonomies\":{\"\":[]},\"post_id\":47059};\n<\/script>\n<div class=\"feed\" data-id=\"6a094e6781ad0\"><\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--white bbg-row--full-bg-bleed\" data-anchor='row-6a094e6782adf'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\tbackground: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Interstitial_bg.png);\n\t\t\t\tbackground-repeat: no-repeat;\n\t\t\t\tbackground-position: center center;\n\t\t\t\tbackground-size: cover;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_1.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:white;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_1.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_1\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Request a Demo<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Now, let us do that for you.<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_3838690156946806614\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/request-demo\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Syndicating loans has pitfalls for both investors looking for deals and financial institutions packaging the loans. The Financial Instrument Global Identifier (FIGI) streamlines the process and adds transparency to assist both lenders and investors.<\/p>\n","protected":false},"author":1884,"featured_media":20403,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-article.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"457","footnotes":""},"categories":[457],"tags":[],"series":[],"class_list":["post-47059","post","type-post","status-publish","format-standard","hentry","category-financial-services","type-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A better solution for identifying syndicated loans? The FIGI ID system provides consistency and transparency | Insights | Bloomberg Professional Services<\/title>\n<meta name=\"description\" content=\"Syndicating loans has pitfalls for both investors looking for deals and financial institutions packaging the loans. The Financial Instrument Global Identifier (FIGI) streamlines the process and adds transparency to assist both lenders and investors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A better solution for identifying syndicated loans? The FIGI ID system provides consistency and transparency | Insights | Bloomberg Professional Services\" \/>\n<meta property=\"og:description\" content=\"Syndicating loans has pitfalls for both investors looking for deals and financial institutions packaging the loans. The Financial Instrument Global Identifier (FIGI) streamlines the process and adds transparency to assist both lenders and investors.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/\" \/>\n<meta property=\"og:site_name\" content=\"Bloomberg Professional Services\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/bloomberglp\" \/>\n<meta property=\"article:published_time\" content=\"2016-06-03T16:22:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-12T16:53:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F10%2Fimported%2Fprofessional%2Fsites%2F4%2Fserver.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1067\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"asammon\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@theterminal\" \/>\n<meta name=\"twitter:site\" content=\"@theterminal\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"asammon\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/\"},\"author\":{\"name\":\"asammon\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#\/schema\/person\/b24560c86c9060e9bcd530d184abc901\"},\"headline\":\"A better solution for identifying syndicated loans? The FIGI ID system provides consistency and transparency\",\"datePublished\":\"2016-06-03T16:22:56+00:00\",\"dateModified\":\"2024-04-12T16:53:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/\"},\"wordCount\":\"1238\",\"publisher\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#organization\"},\"articleSection\":[\"Financial Services\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/\",\"url\":\"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/\",\"name\":\"A better solution for identifying syndicated loans? The FIGI ID system provides consistency and transparency | Insights | Bloomberg Professional Services\",\"isPartOf\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#website\"},\"datePublished\":\"2016-06-03T16:22:56+00:00\",\"dateModified\":\"2024-04-12T16:53:43+00:00\",\"description\":\"Syndicating loans has pitfalls for both investors looking for deals and financial institutions packaging the loans. The Financial Instrument Global Identifier (FIGI) streamlines the process and adds transparency to assist both lenders and investors.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#website\",\"url\":\"https:\/\/www.bloomberg.com\/professional\/\",\"name\":\"Bloomberg Professional Services\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.bloomberg.com\/professional\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#organization\",\"name\":\"Bloomberg Professional Services\",\"url\":\"https:\/\/www.bloomberg.com\/professional\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png\",\"contentUrl\":\"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png\",\"width\":\"512\",\"height\":\"103\",\"caption\":\"Bloomberg Professional Services\"},\"image\":{\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.instagram.com\/bloomberg\/\",\"https:\/\/www.linkedin.com\/showcase\/bloomberg-professional-service\/\",\"https:\/\/www.facebook.com\/bloomberglp\",\"https:\/\/twitter.com\/theterminal\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.bloomberg.com\/professional\/#\/schema\/person\/b24560c86c9060e9bcd530d184abc901\",\"name\":\"Bloomberg Professional Services\",\"url\":\"https:\/\/www.bloomberg.com\/professional\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"A better solution for identifying syndicated loans? The FIGI ID system provides consistency and transparency | Insights | Bloomberg Professional Services","description":"Syndicating loans has pitfalls for both investors looking for deals and financial institutions packaging the loans. The Financial Instrument Global Identifier (FIGI) streamlines the process and adds transparency to assist both lenders and investors.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/","og_locale":"en_US","og_type":"article","og_title":"A better solution for identifying syndicated loans? The FIGI ID system provides consistency and transparency | Insights | Bloomberg Professional Services","og_description":"Syndicating loans has pitfalls for both investors looking for deals and financial institutions packaging the loans. The Financial Instrument Global Identifier (FIGI) streamlines the process and adds transparency to assist both lenders and investors.","og_url":"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/","og_site_name":"Bloomberg Professional Services","article_publisher":"https:\/\/www.facebook.com\/bloomberglp","article_published_time":"2016-06-03T16:22:56+00:00","article_modified_time":"2024-04-12T16:53:43+00:00","og_image":[{"width":1600,"height":1067,"url":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F10%2Fimported%2Fprofessional%2Fsites%2F4%2Fserver.jpg","type":"image\/jpeg"}],"author":"asammon","twitter_card":"summary_large_image","twitter_creator":"@theterminal","twitter_site":"@theterminal","twitter_misc":{"Written by":"asammon","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/#article","isPartOf":{"@id":"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/"},"author":{"name":"asammon","@id":"https:\/\/www.bloomberg.com\/professional\/#\/schema\/person\/b24560c86c9060e9bcd530d184abc901"},"headline":"A better solution for identifying syndicated loans? The FIGI ID system provides consistency and transparency","datePublished":"2016-06-03T16:22:56+00:00","dateModified":"2024-04-12T16:53:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/"},"wordCount":"1238","publisher":{"@id":"https:\/\/www.bloomberg.com\/professional\/#organization"},"articleSection":["Financial Services"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/","url":"https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/","name":"A better solution for identifying syndicated loans? The FIGI ID system provides consistency and transparency | Insights | Bloomberg Professional Services","isPartOf":{"@id":"https:\/\/www.bloomberg.com\/professional\/#website"},"datePublished":"2016-06-03T16:22:56+00:00","dateModified":"2024-04-12T16:53:43+00:00","description":"Syndicating loans has pitfalls for both investors looking for deals and financial institutions packaging the loans. The Financial Instrument Global Identifier (FIGI) streamlines the process and adds transparency to assist both lenders and investors.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.bloomberg.com\/professional\/insights\/financial-services\/better-solution-identifying-syndicated-loans-figi-id-system-provides-consistency-transparency\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.bloomberg.com\/professional\/#website","url":"https:\/\/www.bloomberg.com\/professional\/","name":"Bloomberg Professional Services","description":"","publisher":{"@id":"https:\/\/www.bloomberg.com\/professional\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.bloomberg.com\/professional\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.bloomberg.com\/professional\/#organization","name":"Bloomberg Professional Services","url":"https:\/\/www.bloomberg.com\/professional\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bloomberg.com\/professional\/#\/schema\/logo\/image\/","url":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png","contentUrl":"https:\/\/assets.bbhub.io\/image\/v1\/convert?type=auto&amp;url=https%3A%2F%2Fassets.bbhub.io%2Fprofessional%2Fsites%2F41%2Flogo.png","width":"512","height":"103","caption":"Bloomberg Professional Services"},"image":{"@id":"https:\/\/www.bloomberg.com\/professional\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.instagram.com\/bloomberg\/","https:\/\/www.linkedin.com\/showcase\/bloomberg-professional-service\/","https:\/\/www.facebook.com\/bloomberglp","https:\/\/twitter.com\/theterminal"]},{"@type":"Person","@id":"https:\/\/www.bloomberg.com\/professional\/#\/schema\/person\/b24560c86c9060e9bcd530d184abc901","name":"Bloomberg Professional Services","url":"https:\/\/www.bloomberg.com\/professional"}]}},"_links":{"self":[{"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/posts\/47059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/users\/1884"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/comments?post=47059"}],"version-history":[{"count":3,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/posts\/47059\/revisions"}],"predecessor-version":[{"id":63969,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/posts\/47059\/revisions\/63969"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/media\/20403"}],"wp:attachment":[{"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/media?parent=47059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/categories?post=47059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/tags?post=47059"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/series?post=47059"},{"taxonomy":"type","embeddable":true,"href":"https:\/\/www.bloomberg.com\/professional\/wp-json\/wp\/v2\/type?post=47059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}