Davis Polk has prepared two memos describing key portions of the bill just signed into law: the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). In this memo, we cover the...
The Federal Reserve announced on March 23, 2020 further action in response to the coronavirus crisis: the creation of the Secondary Market Corporate Credit Facility (SMCCF), along with es...
The Federal Reserve announced on March 23, 2020 further action in response to the coronavirus crisis: the creation of the Primary Market Corporate Credit Facility (PMCCF), along with the ...
The Federal Reserve announced a further expansion of the Money Market Mutual Fund Liquidity Facility (MMLF), originally announced on March 18, 2020 and expanded on March 20, 2020, as part...
The Federal Reserve announced an expansion of the Money Market Mutual Fund Liquidity Facility (MMLF) originally announced on March 18, 2020 as part of its response to the coronavirus cris...
The FDIC proposed a rule to formalize certain longstanding expectations it has for approving applications by new industrial loan companies (ILCs) that would be subsidiaries of a parent co...
The Federal Reserve’s creation of a Money Market Mutual Fund Liquidity Facility (MMLF) follows the announcement of a Commercial Paper Funding Facility and a Primary Dealer Credit Facili...
The Federal Reserve’s creation of a Primary Dealer Credit Facility (PDCF) follows the announcement of a Commercial Paper Funding Facility and represents a continuation of the Federal Re...
It is back to the future. Federal Reserve Chairman Powell pledged last night to fight the impact of the coronavirus (COVID-19) by using the “full range of tools” available to support ...
In a welcome move, two recent actions by the Federal Reserve, OCC and FDIC (the Banking Agencies) recognize the increasing role of fund complexes and passive investing. The Banking Agenc...
