On April 9, 2020, the Federal Reserve and the Secretary of the Treasury announced, pursuant to Title IV of the Coronavirus Aid, Relief, and Economic Security Act, or “CARES Act” and Section 13(3) of the Federal Reserve Act,...more
On April 9, 2020, the Federal Reserve took additional actions to provide up to $2.3 trillion of loans to support the economy. Among the actions taken, the Fed announced the creation of a new Municipal Liquidity Facility (the...more
On Friday, March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act.” The CARES Act is intended to provide significant relief to state and local governments, small...more
On Friday, Mach 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act.” The CARES Act provides significant relief to state and local governments, small and medium...more
3/31/2020
/ Business Interruption ,
CARES Act ,
Coronavirus/COVID-19 ,
Economic Injury Disaster Loans ,
Federal Loans ,
Financial Services Industry ,
Financial Stimulus ,
Lenders ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
We recently reported the SEC’s adoption of amendments to Rule 15c2-12 to add two new events to those now required to be reported. Those two events are: -
Incurrence of a financial obligation of the issuer or obligated...more
On January 17, 2017, the Internal Revenue Service (IRS) released Revenue Procedure 2017-13 (2017-13). This revenue procedure modified, amplified, and superseded Revenue Procedure 2016-44 (2016-44), which was just issued last...more
On August 22, 2016, the Internal Revenue Service (IRS) released Revenue Procedure 2016-44 (2016-44) and then modified 2016-44 on September 2, 2016. This revenue procedure was a response from the IRS to a longstanding request...more