News & Analysis as of

Secondary Market Corporate Credit Facility (SMCCF)

Goodwin

EEOC Releases Updated COVID-19 Vaccine Guidelines for Employers

Goodwin on

In This Issue. The Equal Employment Opportunity Commission (EEOC) released updated COVID-19 vaccine guidelines for employers. Meanwhile, the Board of Governors of the Federal Reserve System (Federal Reserve) remained busy...more

Buchalter

Buchalter COVID-19 Client Alert: Main Street Lending Program and Other Federal Reserve Emergency Lending Facilities Extended to...

Buchalter on

On July 28, the Federal Reserve announced that many of its emergency lending facilities, including the Main Street Lending Program’s New Loan Facility, Priority Loan Facility, Expanded Loan Facility, Nonprofit Organization...more

Morgan Lewis

CARES Act and Federal Reserve Offer Economic Assistance to Stabilize US Economy (UPDATED)

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The Federal Reserve took additional actions on April 9 to provide up to $2.3 trillion in loans to support the US economy during the coronavirus (COVID-19) pandemic. This LawFlash covers the new and expanded programs, and...more

Proskauer Rose LLP

Corporate Credit Facility Update: Latest New York Fed Guidance on CCF Programs - July 2020

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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

Proskauer Rose LLP

Corporate Credit Facility Update: Latest New York Fed Guidance on CCF Programs

Proskauer Rose LLP on

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

Goodwin

Financial Services Weekly Roundup: Treasury And SBA Codify Changes To PPP Flexibility Act

Goodwin on

In This Issue. The U.S. Department of the Treasury (Treasury) and the Small Business Administration (SBA) released an interim final rule to reflect changes made by H.R. 7010, the Paycheck Protection Program Flexibility Act,...more

Morgan Lewis

CARES Act and Federal Reserve Offer Economic Assistance to Stabilize US Economy (UPDATED)

Morgan Lewis on

The Federal Reserve took additional actions on April 9 to provide up to $2.3 trillion in loans to support the US economy during the coronavirus (COVID-19) pandemic. This LawFlash covers the new and expanded programs, and...more

Dechert LLP

Federal Reserve Releases FAQ for the Primary Market Corporate Credit Facility (PMCCF)

Dechert LLP on

On May 4, 2020, the Federal Reserve Bank of New York (the “Federal Reserve”) released Frequently Asked Questions (the “FAQs”) regarding the Primary Market Corporate Credit Facility (“PMCCF”) program, providing greater detail...more

Proskauer Rose LLP

Corporate Credit Facility Update: Latest Federal Reserve Guidance on CCF Programs

Proskauer Rose LLP on

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

Seyfarth Shaw LLP

Federal Reserve Bank of NY Releases Guidance to Terms of Primary Market Corporate Credit Facility and Secondary Market Corporate...

Seyfarth Shaw LLP on

The Federal Reserve Bank of New York (“NY Fed”) published additional guidance for the Primary Market Corporate Credit Facility (“PMCCF”) and the Secondary Market Corporate Credit Facility (“SMCCF”, and, jointly, the...more

Vinson & Elkins LLP

New York Federal Reserve Releases FAQ On Primary And Secondary Market Corporate Credit Facilities And Seller Certification Packet...

Vinson & Elkins LLP on

On May 4, 2020, the Federal Reserve Bank of New York (“the Fed”) released Frequently Asked Questions (“FAQ”) regarding the previously announced Primary Market Corporate Credit Facility (“PMCCF”) and the Secondary Market...more

Pillsbury Winthrop Shaw Pittman LLP

Federal Reserve Expands Size and Scope of Primary Market Corporate Credit Facilities (PMCCF) and the Secondary Market Corporate...

Additional corporate credit facilities under the CARES Act for corporate debt and corporate bonds issued by eligible issuers. Treasury will provide $75 billion in equity to the PMCCF and SMCCF. ...more

Latham & Watkins LLP

Federal Reserve Provides Additional Resources for Financial Markets Participants

Latham & Watkins LLP on

Further economic measures provide support for small and mid-sized businesses, as well as state and local economies facing pandemic hardships. The Federal Reserve, in its continuing efforts to safeguard financial markets,...more

White & Case LLP

COVID-19 Response: Federal Reserve liquidity facilities

White & Case LLP on

Section 13(3) of the Federal Reserve Act authorizes the Federal Reserve Board (FRB) in “unusual and exigent circumstances” to establish programs or facilities with “broad-based eligibility” that allow a Federal Reserve Bank...more

Sheppard Mullin Richter & Hampton LLP

Primary And Secondary Market Corporate Credit Facilities

On April 9, 2020, the Federal Reserve issued a term sheet for each of the Primary Market Corporate Credit Facility (“PMCCF”) and the Secondary Market Corporate Credit Facility (the “SMCCF”). Under the PMCCF and the SMCCF, the...more

Dechert LLP

Federal Reserve Releases Updated Term Sheet on the Primary Market Corporate Credit Facility (PMCCF)

Dechert LLP on

On April 9, 2020, the Federal Reserve Board of Governors (the “Fed”) released an updated term sheet for the Primary Market Corporate Credit Facility (“PMCCF”) program, providing additional detail and further clarification of...more

Skadden, Arps, Slate, Meagher & Flom LLP

Guide to the Federal Reserve's Main Street and Other Lending Programs in Response to COVID-19 Pandemic

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) became law on March 27, 2020. The economic stimulus package in the CARES Act includes federal funding for business stimulus across three broad categories. ...more

Orrick - Finance 20/20

Federal Reserve Announces New Efforts to Stabilize U.S. Economy

On March 23, the Federal Reserve announced several new measures it will take in an effort to support and stimulate the economy during the COVID-19 pandemic. The Federal Open Market Committee will purchase Treasury securities...more

Skadden, Arps, Slate, Meagher & Flom LLP

Federal Reserve Liquidity Programs to Support US Economy During COVID-19 Pandemic — Highlights for Funds and BDCs

In response to the ongoing market turmoil created by the coronavirus/COVID-19 pandemic, the Federal Reserve has established a number of market stability and liquidity programs, many of which may be of interest to funds (both...more

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