The order is a significant development given that the number of deal announcements continues to gain steam heading into the second half of the year. … READ MORE >
banking
Fed sets up $2.3 trillion in liquidity commitments, introduces Main Street Lending Program
The Federal Reserve made history on Thursday by moving aggressively to provide up to $2.3 trillion in liquidity commitments to support the economy. This policy intends to bolster households, small and medium-sized firms, and the ability of state and local governments to float debt to ensure critical services during the pandemic. … READ MORE >
How banks can help their customers navigate the coronavirus shock
Even though the CARES Act provides a stimulus package of $2.39 trillion, or 11.4% of gross domestic product — along with a relaxing of rules surrounding payment deferrals and loan modifications by banking regulators — that may not be enough to blunt the continued decline in economic activity. … READ MORE >
Declining demand for commercial loans points to continued uncertainty
Demand for commercial loans softened dramatically in the third quarter, the Federal Reserve Bank of New York reported, signaling that businesses continue to be cautious amid simmering trade tensions and slowing economic growth. … READ MORE >