On September 9, the Federal Reserve Bank of New York announced the first wave of new counterparties selected as part of the expansion program announced earlier in September. Widening the eligibility criteria for agency CMBS...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
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
As during the 2008 global financial crisis, the US financial regulators and Congress are taking emergency action to ensure the availability of liquidity and credit to the US financial system in response to the COVID-19...more
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
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