In statements made yesterday on “Squawk Box” on CNBC, Secretary Mnuchin said:
“I’m going to be putting out an announcement later this morning that for any loan over $2 million, the Small Business Administration will be...more
5/4/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Secretary of the Treasury ,
Small Business ,
U.S. Treasury
In FAQ #31 posted on April 23, 2020, the US Small Business Administration offered the following clarification (italics added):
31. Question: Do businesses owned by large companies with adequate sources of liquidity to...more
On April 9, 2020, the U.S. Federal Reserve announced revised preliminary terms for the Term Asset-Backed Securities Loan Facility ("TALF 2020"). Certain CLO securities that are rated AAA by at least two rating agencies and...more
The SBA’s Paycheck Protection Program, a $349 billion loan guaranty program established by the CARES Act to provide deferrable, forgivable loans up to $10 million to small business owners addressed in more detail in prior...more
4/9/2020
/ Affiliated-Business Arrangements ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Underwriting
On March 31, 2020, the U.S. Department of the Treasury issued guidance on the Payroll Protection Program (PPP) under the CARES Act. The PPP provides small business with funds to pay payroll costs, including employee...more
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law. Among other things, the CARES Act creates the “Paycheck Protection Program” (PPP), which provides up to $349 billion...more
4/2/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Services Industry ,
Financial Stimulus ,
FinTech ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed into law.
...more
3/31/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
On March 6, 2020, the Alternative Reference Rates Committee (ARRC) released its “Proposed Legislative Solution to Minimize Legal Uncertainty and Adverse Economic Impact Associated with LIBOR Transition,” which the ARRC...more
On January 30, 2020, the Board of Governors of the Federal Reserve System (“FRB”), the Federal Deposit Insurance Corporation (“FDIC”), the Office of the Comptroller of the Currency (“OCC”), the Securities and Exchange...more
2/13/2020
/ Banking Reform ,
Banking Regulators ,
CFTC ,
Covered Funds ,
FDIC ,
Financial Institutions ,
Financial Regulatory Reform ,
FRB ,
Loans ,
OCC ,
Proprietary Trading ,
Regulatory Agenda ,
Regulatory Burden ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securitization ,
Venture Capital ,
Volcker Rule ,
Wealth Management
On January 30, 2020, five federal financial regulatory agencies published the long awaited notice of proposed rulemaking (the “NPR”) to revise certain aspects of the Volcker Rule (Section 13 of the Bank Holding Company Act)...more
On December 3rd, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Office of the...more
12/6/2019
/ Consumer Credit Protection ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Credit ,
FDIC ,
Federal Reserve ,
Financial Regulatory Agencies ,
Interagency Guidance ,
NCUA ,
OCC ,
Underwriting
Following the inaugural sovereign blue bond issuance by the Republic of Seychelles last October, there have been two recent blue bond announcements. First, The Nature Conservancy recently announced its ambitious “Blue Bonds...more
On November 30, 2018, the Securities and Exchange Commission (the “Commission”) adopted a new rule establishing a non-exclusive research report safe harbor (“Rule 139b”) for unaffiliated brokers or dealers that publish or...more
On October 31, 2018, the US Securities and Exchange Commission (“SEC” or “Commission”) issued a final rule (Final Rule) to modernize required property disclosures for mining registrants. ...more
On October 1, 2018, a public petition (Petition) was filed with the US Securities and Exchange Commission (SEC) for a rulemaking on environmental, social and governance (ESG) disclosure. The Petition was authored by two law...more