The House Committee on Financial Services Subcommittee on National Security, International Development and Monetary Policy considered testimony on lessons learned from emergency lending facilities set up by the Federal Reserve Board during the pandemic.
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The MSRB provided additional guidance for regulated entities concerning COVID-19-related regulatory relief.
In testimony before the Senate Banking Committee, Federal Reserve Board Chair Jerome H. Powell and Secretary of the Treasury Steven T. Mnuchin reviewed government actions taken pursuant to the Coronavirus Aid, Relief, and Economic Security Act.
The Federal Reserve Bank of New York on Thursday issued explanatory documents and described the workings of the Primary Dealer Credit Facility.
The Federal Reserve Board established a Commercial Paper Funding Facility "to support the flow of credit to households and businesses due to the coronavirus outbreak."