The New York Fed opened the registration process for the Commercial Paper Funding Facility (CPFF) and published expanded FAQs pertaining to the facility’s operations.
The Federal Reserve will establish a facility to provide term financing backed by the Small Business Administration's Paycheck Protection Program loans. Additional details will be released later this week.
Representatives Vicente Gonzalez (D-TX) and Barry Loudermilk (R-GA) led a bipartisan letter to Federal Reserve Chairman Jerome Powell asking that Term Asset-Backed Loan Facility (“TALF”) eligibility be expanded to include loans to private investors in both agency and private label RMBS, CMBS, and commercial real estate CLOs that were rated investment grade at issuance.
SFA joins Mortgage Bankers Association and a broad coalition of organizations in calling on regulators to provide a source of liquidity to mortgage servicers that may need additional capacity to support homeowners and renters impacted by COVID-19. Read our letter here.
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 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.
