Government Support for Business

The business and financial fallout of the coronavirus pandemic is hitting companies in all areas of the U.S. economy, and weighing on those from industry giants to small local businesses. For many businesses, survival will depend on accessing one or more of the numerous support programs announced by the Federal Reserve and others enacted as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) signed by President Trump on March 27, 2020. The drawers below contain links to all of the government materials, sorted by program, in one convenient place.

Our new Government Support for Business Task Force brings together partners from multiple practice areas to serve clients with Davis Polk’s signature world-class advice and collaborative approach. The Task Force can be reached by emailing stimulus.taskforce@davispolk.com

FEATURED CONTENT

See our Coronavirus Updates page for a compendium of Davis Polk content related to the pandemic’s economic fallout and government responses, organized by topic.

Additional content about coronavirus-related programs can be found on our FinReg Blog. To receive an email update of the day’s new posts at 7:00 p.m. ET, sign up here.

Our morning FinReg Tracker email is a simple list, with hyperlinks, of all developments from the day before from Congress and the federal financial agencies. View a recent FinReg Tracker and sign up to receive the Tracker at 7:00 a.m. ET Monday-Saturday.

Please email government.support.suggestion@davispolk.com if you have any suggestions for materials to add to this Government Support for Business page.

Programs annotated with * are not yet operational.

 
 
Legislation
Congressional Oversight Commission Materials
House Financial Services Committee Materials
Legislative History

Bill Versions

Presidential Signing Statement

Committee Reports

Floor Debate

 
 

Federal Reserve General and Background Materials

Small Business Relief

Legislation
Blacklines
Paycheck Protection Program

Agency Materials and Tools

Lenders:

Borrowers:

Related Capital Rules Materials

Senate Materials
Senate Banking Committee MateriaLS
House Financial Services Committee Materials

o   Interim Final Rule, Eligibility of Certain Electric Cooperatives, May 14, 2020: https://www.sba.gov/sites/default/files/2020-05/Interim-Final-Rule-on-Eligibility-of-Certain-Electric-Cooperatives.pdf

 

Paycheck Protection Program Liquidity Facility (PPPLF)

Initial Announcement
Terms and Guidance
Reports to Congress
PPPLF Borrowing Documentation for Depository Institutions
PPPLF Operational Documentation for Depository Institutions
Borrowing Documentation for Non-Depository Institutions
Operational Documentation for Non-Depository Institutions
Related Capital Rules Materials

Main Street Business Lending*

Agency Materials

Announcements and other Agency Materials:

Main Street New Loan Facility*

Terms and Guidance:

Main Street Priority Loan Facility* 

Terms and Guidance:

Main Street Expanded Loan Facility*

Terms and Guidance:

House Financial Services Committee Materials
 
 

Discount Window and Regulatory Actions

DISCOUNT WINDOW
RESERVE REQUIREMENT
BUFFERS RELEASED
SUPPLEMENTARY LEVERAGE RATIO MODIFICATION
COMMUNITY BANK LEVERAGE RATIO MODIFICATION
Liquidity Coverage Ratio Modification
LOAN MODIFICATIONS (TDRS)
CURRENT EXPECTED LOSS METHODOLOGY (CECL) DEFERRAL
STANDARDIZED APPROACH FOR COUNTERPARTY CREDIT RISK (SA-CCR) EARLY ADOPTION
DELAY OF REVISED CONTROL FRAMEWORK
EXTENSION OF VOLCKER RULE COMMENT PERIOD
SUPERVISORY APPROACH
REPORTING REQUIREMENTS
Suspension of Transfer Limitations