PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday, July 28, 2020
July 28, 2020
FedACTion Task Force
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PH Client Alerts
Click here to read more from our Coronavirus series.
Major Developments
NY Fed Updates Term Asset-Based Securities Loan Facility FAQs
July 27, 2020
The Federal Reserve Bank of New York issued revised Frequently Asked Questions (FAQs) for the Term Asset-Backed Securities Loan Facility. The previous version of the FAQs, dated July 23, 2020, had set forth requirements for investors borrowing against asset-backed securities (ABS) they already own. The revised FAQs set forth modifications to these requirements for investors borrowing against new issue eligible small business ABS.
Congress
Click here to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), Enacted March 27, 2020.
Click here to view the full text of the Paycheck Protection Program Increase Act of 2020, Enacted April 24, 2020.
Click here to view the full text of the Paycheck Protection Program Flexibility Act of 2020, Enacted June 5, 2020.
Click here to view a running list of proposed legislation from the Senate Committee on Banking, Housing, and Urban Affairs, Senate Committee on Small Business and Entrepreneurship, House Committee on Financial Services, and House Committee on Small Business.