PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday, September 9, 2020
September 09, 2020
FedACTion Task Force
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PH Client Alerts
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Major Developments
New York Fed Issues Revised FAQs for Municipal Liquidity Facility
September 8, 2020
The Federal Reserve Bank of New York revised the Frequently Asked Questions for the Municipal Liquidity Facility.
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.
Federal Agencies
Fannie Mae
Housing Sentiment Regains Momentum After July Stumble
September 8, 2020
Fannie Mae released data detailing the continuing effects of COVID-19 on consumer confidence in housing. The Fannie Mae Home Purchase Sentiment Index® (HPSI) increased 3.3 points in August to 77.5, recovering after falling slightly in July, and continuing the rebound from May and June. Five of the six HPSI components increased month over month, with consumers reporting a more optimistic view of both home-buying and home-selling conditions, but a slightly more pessimistic view of expected home price growth. Year over year, the HPSI is down 16.3 points.