Blog

Look inside our industry from the perspective of securitization professionals.

CARES Act Signed into Law

On March 27, the House of Representatives approved, and President Donald Trump signed, the CARES Act into law. This is the third piece of legislation to address the coronavirus pandemic and follows enactment of the Families First Coronavirus Response Act and a Coronavirus Preparedness and the Response Supplemental Appropriations Act earlier this month.

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Senate passes CARES Act

Late Wednesday night, March 25, the Senate passed the third piece of legislation aimed to combat the economic consequences of the COVID-19 pandemic.

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SFA analysis of Section 4022 of CARES Act

Section 4022 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act covers a nationwide foreclosure moratorium and the consumer’s right to request a forbearance. SFA provides analysis.

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TALF resurrected

In response to the economic dislocation brought on by the coronavirus pandemic, the Fed dusted off another powerful crisis-era tool. On March 23, the Fed established the Term Asset-Backed Securities Loan Liquidity Facility (TALF) to support the flow of credit to consumers and businesses.

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COVID-19’s impact on the CLO market

COVID-19, social distancing, a declaration of a national emergency, and an oil price war all arrived in the U.S. in March. SFA takes a look at the potential impact of recent events on the CLO market.

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“Phase III” coronavirus response bill stalls in Senate

Senators failed to invoke cloture on a procedural motion that would have lined up a vote on final passage of Leader McConnell's revised CARES Act, significantly decreasing the likelihood of final passage today.

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An unprecedented week of Fed actions

The Fed response to the COVID-19 crisis has been swift and certain. In short order the Fed has: On the home front,Lowered interest rates to near zero to help assist consumer and businesses weather a period of economic slowdown,Re-ignited Quantitative Easing (QE) to buy back “at least” $700 billion of…

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Senate Majority Leader McConnell releases “Phase III” coronavirus bill

On Thursday, March 19, Senate Majority Leader Mitch McConnell (R-KY) officially introduced his “Phase III” legislation aimed at stemming the impact of COVID-19.

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Federal government works on “Phase III” relief package

Congress and the Trump administration are scrambling to develop a third legislative response package aimed at stemming the impact of the COVID-19 pandemic.

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Fed deploys another credit facility

In an effort to calm historic levels of market volatility, the Fed re-launched two emergency lending facilities that were last used to successfully manage the 2008 crisis.

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