Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 05 NOVEMBER 2020

Federal Reserve Announces Changes To MSLP, Including Lower Minimum Loans And Clarification For PPP Borrowers

Varnum LLP
Explore more from Varnum LLP

On October 30, 2020 the Federal Reserve announced changes to its Main Street Lending Program (Main Street Program).

United StatesFinance and Banking
Matthew W. Bower
Matthew W. Bower

On October 30, 2020 the Federal Reserve announced changes to its Main Street Lending Program (Main Street Program). As previously described for private borrowers and for non-profit borrowers, this program provides up to $600 billion in liquidity to eligible lenders that make direct loans to eligible for-profit businesses and certain non-profit organizations. According to the Federal Reserve, the Main Street Program has made almost 400 loans totaling $3.7 billion, or 0.62% of program capacity, since its launch this summer. The program has attracted criticism for imposing terms that many view as restricting wider acceptance by borrowers and lenders alike. This is evidenced by the relatively small take-up to date.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

SEC Advances “Responsible Retailization” Through A Potential Accredited Investor Exam And Potential Regulated Fund Reforms

On September 30, 2026, the Securities and Exchange Commission (SEC) issued two rule proposals and five notices aimed at expanding investors’ access to private markets. The package would add ways to qualify as an accredited investor, including passing a new exam administered by the Financial Industry Regulatory Authority (FINRA), broaden performance-based compensation and modernize regulated funds, including interval funds and business development companies (BDCs).
United StatesFinance and Banking
Proskauer Rose LLP
Proskauer Rose LLP
Article

OCC Issues Examiner Framework For Banks’ Use Of Artificial Intelligence

The Office of the Comptroller of the Currency has released a new framework for evaluating banks' deployment of artificial intelligence and agentic AI systems in their business operations. This guidance establishes how examiners will assess AI through existing risk management disciplines rather than creating separate regulatory requirements, with review intensity scaled to each use case's potential consequences and level of human oversight.
United StatesFinance and Banking
Sheppard
Sheppard
Article

23x5 Trading Comes To US Exchanges: What Firms Should Know Before Launch

US national securities exchanges are preparing to launch 23x5 trading by December 6, 2026, marking the most significant expansion of trading hours in decades. This comprehensive analysis examines the regulatory approvals, operational infrastructure changes, investor protection mechanisms, and issuer considerations necessary to support overnight equity trading from Sunday through Thursday evenings.
United StatesFinance and Banking
WilmerHale
WilmerHale
Article

SEC Approves FINRA’s New “Outside Activities” Rule

The Securities and Exchange Commission has approved FINRA Rule 3290, which will replace existing rules governing outside business activities and private securities transactions for registered persons. This new rule narrows the scope to focus on investment-related activities while maintaining similar supervisory obligations for member firms. Understanding the key changes and implementation requirements will be critical for broker-dealers as they update their compliance policies and procedures.
United StatesFinance and Banking
WilmerHale
WilmerHale