On 16 May 2017, the European Central Bank (“ECB”) published its final guidance on leveraged transactions (the “guidance”). The guidance will become effective on 16 November 2017. The guidance provides for certain “significant credit institutions” to adopt internal policies and procedures to develop clear and consistent definitions, measures and monitoring procedures for leveraged transactions. You can find a copy of the guidance here. We previously reported on the draft guidance and public consultation process, which was launched last year, here.