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Podcast: Non-binding Guidance: Breakthrough Devices Program
The Federal Reserve Bank of Boston announced on July 6, 2020, that the Main Street Lending Program (“Main Street Program” or “Program”) is now fully operational and ready to purchase participation in eligible loans that are...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
As revised, TALF may provide a safety net in the event of catastrophic CLO market conditions but is not likely to meet the goal of reviving the corporate loan market Introduction - On May 12, 2020, the Federal Reserve...more
The US Treasury Department and Federal Reserve Bank of New York recently released a new set of FAQs and a revised term sheet for the new Term Asset-Backed Securities Loan Facility (TALF) program, which is intended to address...more
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
As part of a number of liquidity measures announced in response to the COVID-19 pandemic, the Federal Reserve re-established the Term Asset-Backed Securities Loan Facility (“TALF”) on March 23, 2020....more
On April 9, 2020, the Federal Reserve announced its Main Street Lending Program (MSLP), which in its initial form consisted of two facilities through which the Federal Reserve would purchase participations in loans that met...more
A few weeks ago, we commented on the Federal Reserve’s newly unveiled Main Street Lending Program. We noted that the $600 billion lending effort was for businesses with up to 10,000 employees and up to $2.5 billion in 2019...more
The Federal Reserve Board on Thursday announced it is expanding the scope and eligibility for the Main Street Lending Program, the $600 billion program of financial assistance to small and medium-sized businesses authorized...more
On April 30, 2020, following a period of public comment, the Federal Reserve Board (“Fed”) published additional guidance and revisions to its Main Street Lending Program (the “Main Street Program”), expanding the program’s...more
With lending now underway under the well-known Paycheck Protection Program (PPP) established under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) aimed at providing COVID-19 relief to small and medium...more