FSB Lowers the LIBOR Boom
Continuing its efforts to propel LIBOR transition, the FSB today issued a roadmap of steps which financial and nonfinancial institutions and agencies should take to ensure that new benchmarks are fully operational ahead of the official end of LIBOR at year-end 2021.
COVID Subcommittee: Treasury/SBA, Not Banks, to Blame for PPP-Loan Patterns
The Select Subcommittee on the Coronavirus Crisis today issued a staff report concluding that Treasury and SBA encouraged big banks to provide loans to wealthy, existing clients rather than to struggling small businesses in underserved communities.
COVID Commission: MLF Gets a Pass, SMCCF Should Stop
Following what were reportedly significant and partisan disagreements, the Congressional Oversight Commission today released its report on the Fed’s Municipal Liquidity Facility (MLF).