Banking on Main Street
June 22, 2020
The speakers will cover the establishment of the Main Street Lending Program. As part of its broad effort to support the economy, the Federal Reserve developed, among other programs, the Main Street Lending Program (“Program”) to help credit flow to small and medium-sized American businesses that were in sound financial condition before the flu pandemic. The Program was established under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) signed by President Trump on March 27, 2020. Under this Program Eligible borrowers can qualify for a Main Street New Loan Facility; the Main Street Priority Loan Facility; or Main Street Expanded Loan Facility. The Federal Reserve has issued guidance in the form of term sheets for each of the loans under the Program and frequently asked questions (FAQ) guidance. The Program has not yet become operational.
Panelists:
- John Villamil (moderator), Scotiabank, Houston, TX
- Elliot Ganz, The Loan Syndications & Trading Association, New York, NY
- Fred Fisher, Mayer Brown LLP, Chicago, IL
- Adam Wolk, Mayer Brown LLP, New York, NY
- Kristen V. Campana, Morgan, Lewis & Bockius LLP, New York, NY
- Matthew Edward Schernecke, Morgan, Lewis & Bockius LLP, New York, NY
Presented by: Banking Law Committee
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