News Topic: Treasury Department

The head of the Senate panel overseeing Federal Reserve and Treasury Department efforts to boost the U.S. economy urged the agencies to remember their disclosure requirements. ... Read full article

In some cases, financial institutions are required by court order to divert funds to private creditors. But the industry has added its voice to a consensus for a legislative update to ensure Americans receive their full amount. ... Read full article

Many banks were hitting their limits for lending to small businesses devastated by the coronavirus outbreak. They say the Fed's decisions to help fund additional loans and relax capital requirements will resolve many of their problems. ... Read full article

The lending facility is for companies with more than 500 employees that are disqualified from the relief program for small businesses and too small for federal loans reserved for larger companies. ... Read full article

The Small Business Administration said lenders approved $71 billion in loans from the Paycheck Protection Program in less than five days. ... Read full article

Soaring demand for loans from firms hard hit by the coronavirus pandemic has led to predictions that the program could soon run out of funds. ... Read full article

Ginnie Mae and the FHA provided temporary liquidity relief for mortgage servicers bracing for higher delinquencies, but the industry continues to pressure Treasury and the Fed to provide more comprehensive support. ... Read full article

Sen. Marco Rubio, R-Fla., said that $349 billion will likely not be enough meet loan demand from small businesses seeking a lifeline to help them weather the economic downturn brought on by the coronavirus outbreak. ... Read full article

While the federal government is touting the early success of the Paycheck Protection Program, community banks are complaining about headaches and glitches. ... Read full article

Many bankers find crucial parts of the SBA effort to help businesses hurt by the coronavirus outbreak to be unclear and onerous. If those issues go unresolved, participation could suffer. ... Read full article

After budget cuts and a strategic transition, the interagency body conceived by Dodd-Frank to identify systemic threats has largely been silent as the pandemic roils the economy. ... Read full article

With economists fearing high unemployment stemming from the pandemic, the housing finance system is grappling with how it will recoup lost revenue from delinquencies, forbearance plans and other tremors. ... Read full article

Financial services personnel were among critical infrastructure groups that the Department of Homeland Security said were crucial for “public health and safety as well as community well-being” during the pandemic. ... Read full article

Some industry observers are calling on the Treasury Department to bring back the Small Business Lending Fund to help small companies stay afloat during the coronavirus pandemic and get back on their feet once the crisis passes. ... Read full article

The Money Market Mutual Fund Liquidity Facility, established under the central bank’s emergency authority, echoes a version that was set up during the global financial crisis. ... Read full article

The establishment of the Primary Dealer Credit Facility is among a flurry of recent actions by the central bank to limit the economic impact of the coronavirus. ... Read full article

The central bank said it was establishing the Commercial Paper Funding Facility to "support the flow of credit to households and businesses." ... Read full article

The actions include cutting the federal funds rate to between 0% and 0.25% and other steps to ease economic stress from the spread of the coronavirus. ... Read full article