Investment Management and Private Funds Roundtable: TALF 2020 and PPP Update
The Return of TALF Fund Opportunities Via COVID-19 Relief
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
In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more
In response to the economic consequences of the measures being taken to contain the spread of the novel coronavirus (COVID-19), the Board of Governors of the Federal Reserve System (the "Federal Reserve") revived the Term...more
Your team at ML Strategies continues to monitor federal and state legislative and regulatory responses to the public health and economic crisis. Each week, ML Strategies will provide updates from Massachusetts and Washington,...more
On April 9, 2020, Federal Reserve Chairman Jerome Powell announced new Federal Reserve programs to “provide as much relief and stability as we can during this period of constrained economic activity, and our actions today...more
Updates and FAQs further expand the scope of the program and provide additional clarity regarding eligibility criteria and program requirements. On May 12, 2020, the Federal Reserve released an updated term sheet and FAQs,...more
The Federal Reserve is restarting its Term Asset-Backed Security Loan Facility (TALF) program, which was very successful during the 2008 financial crisis. This program is designed to strengthen the market for asset-backed...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
Like our clients, Holland & Knight's Financial Services Industry Group is committed to actively contributing to our nation's response to the coronavirus (COVID-19) pandemic and related economic fallout and recovery efforts....more
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
On April 9, 2020, the Federal Reserve issued an updated term sheet for the Term Asset-Backed Securities Loan Facility (“TALF”). Under TALF, the Federal Reserve will make an equity investment of $10 billion in a special...more
On April 9, 2020, the U.S. Treasury and Federal Reserve Board announced new and expanded lending programs providing up to $2.3 trillion in loans to further support the economy during the coronavirus crisis. ...more
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
On Thursday, April 9th, the Department of Treasury finalized plans to provide several layers of credit in response to the ongoing COVID-19 market disruptions. ...more
Certain commercial mortgaged-backed securities and collateralized loan obligations are now eligible. On April 9, 2020, the Federal Reserve announced it is taking additional actions to support further credit flow to...more
On April 9, 2020, the Federal Reserve issued a press release announcing that it would be seeking to undertake additional actions to provide up to $2.3 trillion in loans to support the economy. ...more
In response to the current credit crisis triggered by the COVID-19 pandemic, on March 23, the Federal Reserve Bank of New York (the Federal Reserve) revived the Term Asset-Backed Securities Loan Facility (TALF) first...more
This client alert is one of a series as we track developments in the implementation of the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act")....more
On March 23, 2020, the Federal Reserve announced that it will use its powers under Section 13(3) of the Federal Reserve Act to launch new liquidity facilities to help provide financing to U.S. businesses, employers, and...more
Several federal agencies have announced various measures to help the United States respond to the economic dislocations from the COVID-19 coronavirus pandemic. This Dechert OnPoint summarizes several significant initiatives...more