Fed Releases Updated Frequently Asked Questions for Business and Nonprofit Facilities and Instructions for Lender Required Documentation -
On September 18, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”)...more
9/28/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
EBITDA ,
Eligibility ,
Federal Reserve ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Nonprofits ,
SBA ,
Small Business ,
Special Purpose Vehicles ,
Term Sheets
On August 24, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) published an updated set of Frequently Asked Questions for the Business Facilities (defined below) and an updated set of Frequently Asked Questions for...more
On May 20, 2020, the Federal Reserve Bank of New York (the “New York Fed”) released the form of Master Loan and Security Agreement (“MLSA”) that will govern loans issued under its Term Asset-Backed Loan Facility (“TALF”) and...more
8/31/2020
/ Asset-Backed Securities ,
Borrowers ,
Coronavirus/COVID-19 ,
Due Diligence ,
Federal Loans ,
Federal Reserve ,
FinCEN ,
Issuer Eligibility Criteria ,
Master Loan and Security Agreement (MLSA) ,
SBA ,
Securities Exchange Act ,
Special Purpose Vehicles ,
Term Asset-Backed Securities Loan Facility (TALF) ,
Term Sheets
On August 6, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) published an updated set of Frequently Asked Questions for the Nonprofit Facilities (defined below) (“Nonprofit FAQs”) which are part of the Main Street...more
8/18/2020
/ Borrowers ,
CARES Act ,
Eligibility ,
Federal Reserve ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Nonprofits ,
SBA ,
Special Purpose Vehicles ,
Term Sheets
Originally published on May 4, 2020. Last updated as of July 20, 2020.
On July 17, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) released updated term sheets for two new loan facilities: the Main Street...more
7/21/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Federal Reserve ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Relief Measures ,
SBA ,
Small Business ,
Term Sheets
Originally published on May 4, 2020. Last updated as of July 10, 2020.
The Federal Reserve Bank of Boston recently published information in anticipation of the launch of the Main Street Lending Program under the CARES Act,...more
7/13/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
EBITDA ,
Federal Reserve ,
Lenders ,
Main Street Expanded Loan Facility ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
New Guidance ,
Paycheck Protection Program (PPP) ,
SBA ,
Small Business Loans ,
Special Purpose Vehicles
Originally published on May 6, 2020. Last updated as of June 29, 2020.
On June 29, 2020, the Federal Reserve Bank of New York (the “New York Fed”) published an updated set of Frequently Asked Questions (“FAQs”) concerning...more
Originally published on May 6, 2020. Last updated as of June 22, 2020.
On June 15, 2020, the Federal Reserve Bank of New York (the “New York Fed”) published an updated set of Frequently Asked Questions (“FAQs”) concerning...more
6/24/2020
/ CARES Act ,
Certification Requirements ,
Coronavirus/COVID-19 ,
Corporate Bonds ,
ETFs ,
Federal Reserve ,
Issuer Eligibility Criteria ,
Primary Market Corporate Credit Facility (PMCCF) ,
Secondary Market Corporate Credit Facility (SMCCF) ,
Secondary Markets ,
Term Sheets
UPDATE: Fed Proposes Expansion of Program to Cover Nonprofits -
On June 15, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) announced it was seeking public feedback on its proposal to expand the Main Street...more
6/22/2020
/ Borrowers ,
CARES Act ,
Eligibility ,
Federal Reserve ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
Nonprofits ,
SBA ,
Special Purpose Vehicles ,
Term Sheets
UPDATE: Where is Main Street?—Fed Provides Guidance on the Main Street Lending Program -
On June 11, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) released updated information for potential lenders and...more
6/15/2020
/ Borrowers ,
CARES Act ,
Coronavirus/COVID-19 ,
EBITDA ,
Federal Reserve ,
Lenders ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
New Guidance ,
SBA ,
Small Business ,
Term Sheets
On May 20, 2020, the Federal Reserve Bank of New York (the "New York Fed") released the form of Master Loan and Security Agreement ("MLSA") that will govern loans issued under its Term Asset-Backed Loan Facility ("TALF") and...more
6/11/2020
/ Asset-Backed Securities ,
CMBS ,
Collateralized Loan Obligations ,
Coronavirus/COVID-19 ,
Eligibility Determination ,
Federal Reserve ,
FinCEN ,
Master Loan and Security Agreement (MLSA) ,
SBA ,
Term Asset-Backed Securities Loan Facility (TALF) ,
Term Sheets
UPDATE: Where is Main Street?—Fed Provides Guidance on the Main Street Lending Program -
On June 8, 2020, the Federal Reserve Bank of Boston (the “Boston Fed”) released information for potential lenders and borrowers in...more
6/11/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Credit Facilities ,
Federal Reserve ,
Main Street Lending Programs ,
Main Street New Loan Facility ,
New Guidance ,
SBA ,
Small Business ,
Special Purpose Vehicles ,
Term Sheets
On May 12, 2020, the Federal Reserve published an updated Term Sheet and a set of Frequently Asked Questions (“FAQs”) for the Term Asset-Backed Securities Loan Facility ("TALF"). The TALF program, which was first announced on...more
On May 4, 2020, the Federal Reserve published an updated set of Frequently Asked Questions (“FAQs”) concerning the Primary Market Corporate Credit Facility (the “PMCCF”) and Secondary Market Corporate Credit Facility (the...more
On April 9, 2020, the Federal Reserve released an updated term sheet for the Term Asset-Backed Securities Loan Facility ("TALF"). The TALF program, which was first announced on March 23, 2020, will provide a funding backstop...more
On April 9, 2020, the Federal Reserve announced additional programs under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) to provide up to $2.3 trillion in loans and other investments to support the...more
On April 9, 2020, the Federal Reserve announced additional programs under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) to provide up to $2.3 trillion in loans and other investments to support the...more