Investment Management and Private Funds Roundtable: TALF 2020 and PPP Update
The Return of TALF Fund Opportunities Via COVID-19 Relief
The G7 Finance Ministers and Central Bank Governors issued a communique on the results of their May 18-20 Meeting in Petersburg, Germany....more
On October 22, the Federal Reserve Bank of New York released a revised Master Loan and Security Agreement (MLSA) related to the use of the Term Asset-Backed Securities Loan Facility (TALF). The changes to the MLSA will be...more
On October 22, 2020, the Federal Reserve Bank of New York (“New York Fed”) released an amended form of Master Loan and Security Agreement (the “MLSA”), which governs loans issued under its Term Asset-Backed Loan Facility...more
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
The US Treasury Department and the Federal Reserve Bank of New York (the New York Fed) have announced the complete terms of a new Term Asset-Backed Securities Loan Facility (TALF) program, which is intended to address the...more
The form of agreed-upon procedures report provides additional clarity regarding certain TALF-required CLO report requirements. On September 1, 2020, the Federal Reserve released a form of agreed-upon procedures report...more
On May 20, 2020, the Federal Reserve Bank of New York (the “New York Fed”) released the form of Master Loan and Security Agreement (“MLSA”) that will govern loans issued under its Term Asset-Backed Loan Facility (“TALF”) and...more
The new Term Asset-Backed Securities Loan Facility (TALF) program, which is intended to address the liquidity crisis caused by the coronavirus (COVID-19) global pandemic through non-recourse lending collateralized by...more
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
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
Diverse talents bring diverse ideas. Read our Structured Finance Spectrum for the latest on what’s happening in the structured finance markets in the U.S. and UK. ...more
New Rules, Proposed Rules, Guidance and Alerts - NEW RULES - SEC Amends Financial Reporting Rules for Investment Company Business Combination Transactions - On May 20, 2020, the SEC adopted amendments to the...more
On May 27, 2020, the SEC staff issued a no-action letter to the Investment Company Institute (ICI) and the Securities Industry and Financial Markets Association (SIFMA) permitting registered funds to participate in the Term...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 This Issue. The Office of the Comptroller of the Currency (OCC) released an advanced notice of proposed rulemaking seeking comments on several issues related to digital technology and innovation, as well as proposed...more
On May 20, 2020, the Federal Reserve Bank of New York (the "New York Fed") released the form of Master Loan and Security Agreement ("MLSA") that will govern loans issued under its Term Asset-Backed Loan Facility ("TALF") and...more
On May 27, 2020, the Securities and Exchange Commission’s (SEC) Division of Investment Management (Division) issued a no-action letter (the Letter) that confirmed that registered open-end and closed-end investment companies...more
As of May 28, 2020 - The US Treasury Department and the Federal Reserve Bank of New York (the New York Fed) have announced the complete terms of a new Term Asset-Backed Securities Loan Facility (TALF) program, which is...more
In This Issue. The Office of the Comptroller of the Currency (OCC) finalized its “Madden fix,” establishing a rule that codifies the “valid when made” principle for nationally chartered banks; the Securities and Exchange...more
In March 2020, the Federal Reserve (the “Fed”) announced that it would re-establish the Term Asset-Backed Securities Loan Facility (“TALF”) program, a market stabilization tool that was developed and last used by the Fed...more
On May 20, the Federal Reserve Bank of New York announced the first loan subscription date for the Term Asset-Backed Securities Loan Facility (TALF). The TALF was established to increase availability of credit and support...more
On May 12, 2020, the Federal Reserve Bank of New York (the “Fed”) released its initial draft of frequently asked questions (the “Initial FAQs”) relating to the Term Asset-Backed Securities Loan Facility program (“TALF 2.0”)...more