As the Federal Reserve (the “Fed”) prepares to launch its Main Street Lending Program (the “Main Street Program”), it continues to refine program details and guidance, including based on feedback received from US banks and...more
On April 30, the Federal Reserve announced substantial changes to the initial terms of its Main Street Lending Program originally released on April 9, 2020: After receiving over 2,200 comment letters and consulting with...more
The CARES Act provides for the Federal Reserve creating an SPV that will purchase participation interests in eligible term loans. On April 30, the Federal Reserve posted to its website term sheets that update the Main Street...more
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