Today’s Morning Call on the coronavirus (COVID-19) emergency focused on the Federal Reserve’s alphabet soup of emergency programs and fiscal stimulus legislation. Our speakers were Randall Guynn, head of our Financial Institutions Group, and Margaret Tahyar, a Financial Institutions partner. The discussion included and was moderated by Nora Jordan, a partner and head of the Investment Management Group.
Among the specific topics discussed:
- A rundown of key Fed programs aimed at getting funds to businesses and households, in part by keeping the financial markets working
- The crucial role of the Treasury Department’s financial backing in magnifying the reach of the Fed’s efforts
- A key difference between the current round of support programs and those of the financial crisis era
- Questions about how programs announced by the U.S. and other countries to support businesses will apply to companies with cross-border operations
Related content on Davis Polk Coronavirus Updates includes:
- Fed Actions to Address the Coronavirus Crisis
Download a printable, two-page summary of the Fed’s actions to date.
- Morning Call, March 24, 2020: Shareholder Defenses and Credit Facilities in the Coronavirus Era
- Morning Call, March, 23, 2020: Disclosure and Capital Market Implications of the Coronavirus Crisis