In the week ending March 28, the advance figure for seasonally adjusted initial claims was 6,648,000, an increase of 3,341,000 from the previous week's revised level.
On April 1, a bipartisan group of lawmakers from the House Committee on Financial Services sent a joint letter to Federal Reserve Chairman Jerome Powell urging the Fed to expand the initial Term Asset-Backed Securities Loan Facility (TALF) to include investment-grade securities backed by unsecured consumer loans as eligible collateral.
On March 31, the Structured Finance Association signed onto a joint letter to Securities and Exchange Commission Chair Jay Clayton urging the SEC to set and enforce equal implementation time frames on accounting standards and capital treatment across all financial institutions.
On Wednesday, April 1, SFA submitted a letter to the Federal Reserve, Federal Deposit Insurance Corporation, Commodity Futures Trading Commission, Securities and Exchange Commission, and Office of the Comptroller of the Currency on their recent Volcker Rule proposal.
On April 1, a bipartisan group of lawmakers from the House Committee on Financial Services sent a joint letter to Federal Reserve Chairman Jerome Powell urging the Fed to expand the initial Term Asset-Backed Securities Loan Facility (TALF) to include investment-grade securities backed by unsecured consumer loans as eligible collateral.
On Tuesday, March 31, SFA signed onto a joint letter to the Securities and Exchange Commission urging the SEC to set and enforce equal implementation timeframes on accounting standards and capital treatment across all financial institutions.
The replay of SFA’s webinar analyzing the recent regulatory and legislative developments in response to COVID-19 and the overall impact to our industry is now available.
While coronavirus has already impacted the employment status of millions of Americans, the Fed’s St. Louis district is projecting that the numbers could get much worse – to the tune of 47 million jobs lost, which would translate to a 32.1 percent employment rate.
On Monday, March 30, SFA hosted a webinar on COVID-19 and its overall impact on the structured finance market including the consumer and small business market sectors.
