Federal Reserve

Yellen at Treasury could resuscitate Fed’s loan programs

11/24/20

The Trump administration has compelled the Federal Reserve to shut down the Main Street Lending Program and other facilities that aid banks’ pandemic relief efforts, but President-elect Biden’s Treasury nominee could help turn the spigot back on.

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Biden plans to nominate Janet Yellen for Treasury secretary

11/23/20

Yellen, the former head of the Federal Reserve, would become the first woman to hold the nation’s top economic policy job just as the coronavirus pandemic threatens another downturn.

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Regulators grant relief to banks pushed past key asset limits by PPP

11/20/20

Participation in the Paycheck Protection Program and other emergency lending during the pandemic has swelled many small banks’ balance sheets. Federal regulators are giving them a temporary pass on supervisory requirements tied to their size.

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Fed to return lending-backstop funds to Treasury as requested

11/20/20

The move comes a day after the Federal Reserve had balked at the Treasury Department's demand that it return funds meant for pandemic relief that have so far gone unused.

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Congress splits along party lines over move to end Fed facilities

11/20/20

Democrats called the decision by Treasury Secretary Steve Mnuchin "misguided," arguing that it's too soon to shutter the Federal Reserve's emergency-lending programs. Republicans say the programs have run their course and should expire a the end of the year.

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Treasury wants CARES Act programs to expire. Fed says not so fast.

11/19/20

Treasury Secretary Steven Mnuchin called on the Federal Reserve Thursday to let several of its emergency lending facilities expire at yearend and return unused funds provided by Congress. But the central bank wants the programs to continue.

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Was reboot of this Fed crisis-relief program a bust?

11/17/20

The Term Asset-Backed Securities Loan Facility was brought back to inject $100 billion into the pandemic-battered economy, but only a fraction has been disbursed. Yet experts, pointing to its calming effects on markets, recommend that it be extended into next year.

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Shelton's nomination to the Federal Reserve blocked in senate

11/17/20

Judy Shelton's nomination to the Federal Reserve Board was blocked in the Senate Tuesday, a stunning defeat for Senate Majority Leader Mitch McConnell and a blow to President Donald Trump's drive to reshape the U.S. central bank before he leaves office.

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Shadow lenders poised to get tougher rules in global crackdown

11/17/20

Global regulators are preparing to tighten restrictions on companies believed to have threatened the financial system at the height of pandemic-fueled volatility.

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Shelton Fed nomination draws third GOP Senator’s opposition

11/16/20

Tennessee Sen. Lamar Alexander joined Mitt Romney of Utah and Susan Collins of Maine in disapproving of Judy Shelton's nomination to the Federal Reserve Board, adding drama to a confirmation vote that had been targeted for this week.

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