The CARES Act provides for a $349 billion expansion of the existing Small Business Administration loan program for small businesses. However, the CARES Act does not appear to have overrid...
In light of the many questions our clients have been asking about the legal implications of the coronavirus (COVID-19) crisis and government responses to the pandemic, Davis Polk this wee...
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 an expansion of the Commercial Paper Funding Facility (CPFF), originally announced on March 17, 2020 as part of its response to the coronavirus crisis. Unde...
The Senate Republicans recently released a proposal for Phase 3 of the government’s stimulus response to the coronavirus (COVID-19) emergency. Our rush summary describes certain key po...
These rush overnight bullets describe the Senate Republican proposal for Phase 3 of the government’s stimulus response to the coronavirus (COVID-19) emergency. The rush summary describe...
The FDIC has issued two new sets of FAQs, one for financial institutions and the other for consumers, that address issues that may arise with respect to customers and communities affected...
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...
