We have received a number of inquiries from clients regarding Silicon Valley Bank’s (SVB) recent shut down by the California Department of Financial Protection and Innovation and the FDIC being named as the receiver. This is...more
3/13/2023
/ Banking Sector ,
Banks ,
Borrowers ,
Deposit Accounts ,
Deposit Insurance ,
Depository Institutions ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Insolvency ,
Receivership ,
Silicon Valley
On June 8, 2020, the Board of Governors of the Federal Reserve System (the “Fed”) released improvements favorable to borrowers for its three lending programs (the “Main Street Facilities”) under the Coronavirus Aid, Relief...more
On April 30, 2020, the Board of Governors of the Federal Reserve System (the “Fed”) released further details regarding three lending programs (the “Main Street Facilities”) under the Coronavirus Aid, Relief and Economic...more
On April 9, 2020, the Board of Governors of the Federal Reserve System (the “Fed”) released details regarding two lending programs (the “Main Street Facilities”) under the Coronavirus Aid, Relief and Economic Security Act...more
In addition to the loans being made under the CARES Act to small businesses (typically with fewer than 500 employees), Title IV Subtitle A of the Act also provides nearly $500 billion in senior loans and guarantees to larger...more