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Federal Reserve Board Provides Additional Guidance on the Main Street Lending Program and Further Expands the Program to Provide Liquidity to Nonprofit Organizations

USA - July 20 2020 Effective as of July 7, the Main Street Lending Program became fully operational, with the Main Street Lending Program facilities accepting offers to...

John Bessonette, Kenneth Chin, Richard E. Farley, Fabien Carruzzo, Christopher Auguste.

FSB and BCBS Report on Supervisory Issues Associated With Benchmark Transition

USA - July 14 2020 On July 9, the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS) published a report on the findings of surveys on...

John Bessonette, Kenneth Chin, David J. Fisher, Richard E. Farley, Mark Chass, Terrence L. Shen, Sanjay Thapar, Sara Hung, Jordan M. Rosenbaum, Todd E. Lenson, Fabien Carruzzo, Michael McKay, Douglas Mannal, Jamie D. Kocis, Christopher Auguste.

Congress Enacts Additional Modifications to Paycheck Protection Program and Loan Forgiveness; Program Extended to Aug. 8

USA - July 6 2020 On June 5, the president signed into law the PPP Flexibility Act, which amends key portions of the Coronavirus Aid, Relief, and Economic Security Act...

Alexis Wanzenberg, Seth R. Merl, Max Tierman.

Addresses the Calculation of Total Compensation and Submission of Requisite Financial Information

USA - July 1 2020 On June 15, the Main Street Lending Program opened for lender registration. Our detailed discussion of lender registration and summary of required...

John Bessonette, Kenneth Chin, David J. Fisher, Richard E. Farley, Jordan M. Rosenbaum, Todd E. Lenson, Fabien Carruzzo, Marissa J. Holob, Douglas Mannal, Jamie D. Kocis, Christopher Auguste.

Federal Reserve Board Opens Main Street Lending Program Lender Registration and Provides Additional Guidance for the Program

USA - June 23 2020 Interested lenders may now register under the Main Street Lending Program, through the lender registration portal, by submitting the Main Street...

John Bessonette, Kenneth Chin, David J. Fisher, Richard E. Farley, Jordan M. Rosenbaum, Todd E. Lenson, Fabien Carruzzo, Douglas Mannal, Jamie D. Kocis, Christopher Auguste.