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  • Federal Reserve Board adjusts terms of Main Street Lending Program to better target support to smaller Businesses

    Federal Reserve Board adjusts terms of Main Street Lending Program to better target support to smaller Businesses that employ Millions of Workers and are facing continued Revenue Shortfalls due to the Pandemic| site |



    (October 30, 2020) - - Today, October 30, 2020, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Friday adjusted the terms of the Main Street Lending Program in two important ways to better target support to smaller businesses that employ millions of workers and are facing continued revenue shortfalls due to the pandemic. In particular, the minimum loan size for three Main Street facilities available to for-profit and non-profit borrowers has been reduced from $250,000 to $100,000 and the fees have been adjusted to encourage the provision of these smaller loans. The Board and Department of the Treasury also issued a new frequently asked question clarifying that Paycheck Pr...
    See more | Go to post

  • SBA Offers Disaster Assistance to Maryland Small Businesses Economically Impacted by the Coronavirus (COVID-19

    U.S. Small Business Administration Offers Disaster Assistance to Maryland Small Businesses Economically Impacted by the Coronavirus (COVID-19) | site |




    (October 20, 2020) - - Today, October 20, 2020, the U.S. Small Business Administration (SBA) published the following information:

    ATLANTA – The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Maryland small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced today. SBA acted under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, to declare a disaster following a request received from Gov. Larry Hogan on March 18, 2020.

    The disaster declaration makes SBA assistance available in the entire state of Maryland; District of Columbia and the
    ...
    See more | Go to post

  • Treasury and Federal Reserve Board Expand Measures to Enhance Liquidity and Flow of Credit to American Workers, Households, and Businesses

    Treasury and Federal Reserve Board Expand Measures to Enhance Liquidity and Flow of Credit to American Workers, Households, and Businesses | site |




    (March 23, 2020) - - Today (March 23, 2020), the U.S. Department of the Treasury published the following information:

    WASHINGTON – The spread of coronavirus has disrupted economic activity and put significant liquidity pressure on U.S. businesses. To immediately enhance liquidity and support American workers, households, and businesses through this challenging period, U.S. Treasury Secretary Steven T. Mnuchin today authorized the expansion of two recently launched facilities and the establishment of three new facilities to provide liquidity to the financial system pursuant to section 13(3) of the Federal Reserve Act.


    Expansion of the Money Market Mutual Fund Liquidity Facility (MMLF) and Commercial Paper Funding Facility (CPFF)

    Secretary Mnuchin today approved the expansion...
    See more | Go to post

  • Federal Reserve Board Announces Technical Change to Support the U.S. Economy

    Federal Reserve Board Announces Technical Change to Support the U.S. Economy

    Federal Reserve Board Announces Technical Change to Support the U.S. Economy and Allow Banks to Continue Lending to Creditworthy Households and Businesses | site |





    (March 23, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information:

    The Federal Reserve Board on Monday announced a technical change to support the U.S. economy and allow banks to continue lending to creditworthy households and businesses. The interim final rule will phase in gradually, as intended, the automatic restrictions associated with a firm's "total loss absorbing capacity," or TLAC, buffer requirements, if the levels decline. TLAC is an additional cushion of capital and long-term debt that could be used to recapitalize a bank if it is in distress. The change will facilitate the use of firms' buffers to promote lending activity to households and businesses. Over the past decade, U.S. banks of all sizes have built...
    See more | Go to post

  • Federal Reserve Board Encouraged by Increase in Discount Window Borrowing to Support the Flow of Credit to Households and Businesses

    Federal Reserve Board Encouraged by Increase in Discount Window Borrowing to Support the Flow of Credit to Households and Businesses | site |




    March 19. 2020) - - Today (March 19, 2020), the Board of Governors of the Federal Reserve System published the following information:

    The Federal Reserve Board is encouraged by the notable increase in discount window borrowing this week with banks demonstrating a willingness to use the discount window as a source of funding to support the flow of credit to households and businesses.

    This uptick follows the recent changes to the discount window announced by the Federal Reserve and the federal banking regulators' recent statement encouraging financial institutions to use the discount window. In that statement, the Federal Reserve and other federal regulatory agencies underscored the role of the discount window. By providing ready access to funding, the discount window helps depository institution
    ...
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  • Federal Reserve Board broadens Program of Support for the Flow of Credit to Households and Businesses

    Federal Reserve Board broadens Program of Support for the Flow of Credit to Households and Businesses by establishing a Money Market Mutual Fund Liquidity Facility (MMLF)| site |



    (March 18, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Wednesday broadened its program of support for the flow of credit to households and businesses by taking steps to enhance the liquidity and functioning of crucial money markets. Through the establishment of a Money Market Mutual Fund Liquidity Facility, or MMLF, the Federal Reserve Bank of Boston will make loans available to eligible financial institutions secured by high-quality assets purchased by the financial institution from money market mutual funds. Money market funds are common investment tools for families, businesses, and a range of companies. The MMLF will assist money market funds in meeting demands for redemptions by househol...
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  • Federal Banking Agencies provide Banks additional flexibility to Support Households and Businesses

    Federal Banking Agencies provide Banks additional flexibility to Support Households and Businesses| site |



    Board of Governors of the Federal Reserve System

    Federal Deposit Insurance Corporation

    Office of the Comptroller of the Currency



    (March 17, 2020) - - Today (March 17, 2020), the Board of Governors of the Federal Reserve System published the following information:

    The federal bank regulatory agencies today announced two actions to support the U.S. economy and allow banks to continue lending to households and businesses. They are:
    • A statement encouraging banks to use their resources to support households and businesses; and
    • A technical change to phase in, as intended, the automatic distribution restrictions gradually if a firm's capital levels decline.
    The statement notes that banks have more than doubled their capital and liquidity levels over the past decade and are now substantially safer and...
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  • SBA Administrator Carranza Applauds President’s Efforts to Reduce Public Health Barriers and Protect America’s Small Businesses

    U.S. Small Business Administration Administrator Carranza Applauds President’s Efforts to Reduce Public Health Barriers and Protect America’s Small Businesses| site |




    (March 16, 2020) - - On March 13, 2020 the U.S. Small Business Administration (SBA) published the following information: WASHINGTON – SBA Administrator Jovita Carranza issued the following statement today in response to the President’s Declaration of a National Emergency: “The President’s decision to declare a national emergency represents another significant and very important step in reducing barriers to public health and protecting America’s 30 million small businesses from the threat posed by Coronavirus (COVID-19). The President’s declaration, coupled with the Administration’s unprecedented efforts to mobilize and involve the full force of the federal government and the private sector — including leaders in science, medicine, transportation, finance and business ...
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  • COVID-19 - - Countries, Businesses must Safeguard Human Rights as Virus Spreads, says Bachelet

    COVID-19: Countries, Businesses must Safeguard Human Rights as Virus Spreads: Bachelet| site |



    (March 7, 2020) - - On Friday, March 6, 2020 the United Nations (UN) published the following information:


    COVID-19: Countries, Businesses must Safeguard Human Rights as Virus Spreads: Bachelet




    As the COVID-19 coronavirus continues to spread globally, the UN’s top human rights official appealed on Friday to put rights “front and centre” when implementing preventative measures.



    Liz Throssell, spokesperson in the Office of the High Commissioner (OHCHR), said rights chief Michelle Bachelet, had noted “people who are already barely surviving economically, may all too easily be pushed over the edge by measures being adopted to contain the virus.”



    Carbon emissions drop?

    Meanwhile, as record temperatures continued in the northern hemisphere, the World Meteorological...
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  • IRS to restore Sequestered Funds - - - AMT only - - - this Fiscal Year to Businesses affected by OMB Determination

    IRS to restore Sequestered Funds (AMT only) this Fiscal Year to Businesses affected by OMB Determination| site |


    (January 16, 2020) - - Today, the U.S. Internal Revenue Service (IRS) published the following information: WASHINGTON – The Internal Revenue Service today announced it will return sequestered funds to businesses that were affected by a recent Office of Management and Budget (OMB) determination regarding the Balanced Budget and Emergency Deficit Control Act of 1985, as amended. The IRS will restore any amounts sequestered since 2013 under section 168(k)(4). OMB determined that the refundable corporate minimum tax credit claimed under sections 53 and 168(k)(4) of title 26, U.S. Code as in effect for taxable years beginning before Jan. 1, 2018, is not subject to sequestration. The IRS has a complete list of all taxpayers affected so taxpayers do not need to take any action. Funds and applicable interest will be sent out during fiscal year 2020. Less t...
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  • Agencies Clarify Requirements for Providing Financial Services to Hemp-related Businesses

    Agencies Clarify Requirements for Providing Financial Services to Hemp-related Businesses | site |



    Board of Governors of the Federal Reserve System

    Federal Deposit Insurance Corporation

    Financial Crimes Enforcement Network

    Office of the Comptroller of the Currency

    Conference of State Bank Supervisors



    (December 3, 2019) - - Today, the Board of Governors of the Federal Reserve System published the following information: WASHINGTON—Four federal agencies in conjunction with the state bank regulators today issued a statement clarifying the legal status of hemp growth and production and the relevant requirements under the Bank Secrecy Act (BSA) for banks providing services to hemp-related businesses. The statement emphasizes that banks are no longer required to file suspicious activity reports (SAR) for customers solely because they are engaged in the growth or cultivation of hemp in accordance w...
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  • U.S. Small Business Administration Issues Final Rule to Expand HUBZone Opportunities to Small Businesses and Revitalize Communities

    U.S. Small Business Administration Issues Final Rule to Expand HUBZone Opportunities to Small Businesses and Revitalize Communities | site |



    (November 26, 2019) - - Today, the U.S. Small Business Administration (SBA) published the following information:

    WASHINGTON – The U.S. Small Business Administration today issued a final rule that will implement changes to the Historically Underutilized Business Zone (HUBZone) program that will make the program more attractive to small businesses and encourage them to invest in HUBZone communities and hire HUBZone residents. The new rule changes will also make it easier for federal contracting officers to identify and work with HUBZone-certified small businesses. The rule is published in the Federal Register and effective December 26, 2019. "The exciting improvements outlined in this rule were designed to address longstanding uncertainty from both small businesses contemplating an investment in a designated
    ...
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  • USDA Invests in Drinking Water Quality and Wastewater Management for 784,000 Rural Residents and Businesses in 42 States

    U.S. Department of Agriculture Invests in Drinking Water Quality and Wastewater Management for 784,000 Rural Residents and Businesses in 42 States| site |


    Projects will Improve Water Pressure, Address Public Health and Environmental Issues

    (November 19, 2019) - - Today, the U.S. Department of Agriculture published the following information:

    WASHINGTON, Nov. 19, 2019 – U.S. Department of Agriculture (USDA) Deputy Under Secretary for Rural Development Donald “DJ” LaVoy today announced that the department is investing $635 million in 122 projects to improve water systems and wastewater handling services in rural communities in 42 states. USDA is funding the projects through the Water and Waste Disposal Loan and Grant program. “These investments will bring reliable infrastructure to rural communities. They will replace old, fragile, leaking water pipes with new ones and allow upgrades to water handling systems that are decades old, boosting wa
    ...
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  • SBA to Open Business Recovery Center in Saipan to Help Businesses Impacted by Super Typhoon Yutu

    SBA NEWS RELEASE: SBA to Open Business Recovery Center in Saipan to Help Businesses Impacted by Super Typhoon Yutu




    (November 4, 2018) - - Today, the Federal Emergency Management Agency (FEMA) published the following information:

    Sacramento, Calif. - - The U.S Small Business Administration today announced the opening of an SBA Business Recovery Center in Saipan to provide a wide range of services to businesses impacted by Super Typhoon Yutu that occurred Oct. 24–26, 2018. The center will open as indicated below. “Due to the severe property damage and economic losses Super Typhoon Yutu inflicted on Saipan businesses, we want to provide every available service to help get them back on their feet,” said SBA’s Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West. “The center will provide a one-stop location fo
    ...
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  • U.S. Department of Labor Announces Proposal to Help Small Businesses Strengthen Retirement Security for Millions of American Workers

    U.S. Department of Labor Announces Proposal to Help Small Businesses Strengthen Retirement Security for Millions of American Workers


    President Trump Seeks to Expand Access to Association Retirement Plans



    Washington, DC - - (October 22, 2018) - - The U.S. Department of Labor today announced a Notice of Proposed Rulemaking to help small businesses strengthen retirement security in America. The proposed rule would make it easier for small businesses to offer retirement savings plans to their workers through Association Retirement Plans, which would allow small businesses to band together to offer 401(k) plans to their employees. "President Donald J. Trump is moving to expand quality, affordable workplace retirement plan options for America's small businesses and their employees. Many small businesses would like to offer retirement benefits to their employees, but are disc...
    See more | Go to post

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  • Staff Reporter 1
    Federal Reserve Board adjusts terms of Main Street Lending Program to better target support to smaller Businesses
    by Staff Reporter 1
    Federal Reserve Board adjusts terms of Main Street Lending Program to better target support to smaller Businesses that employ Millions of Workers and are facing continued Revenue Shortfalls due to the Pandemic| site |



    (October 30, 2020) - - Today, October 30, 2020, the Board of Governors of the Federal Reserve System published the following information: The Federal Reserve Board on Friday adjusted the terms of the Main Street Lending Program in two important ways to better target support to smaller businesses that employ millions of workers and are facing continued revenue shortfalls due to the pandemic. In particular, the minimum loan size for three Main Street facilities available to for-profit and non-profit borrowers has been reduced from $250,000 to $100,000 and the fees have been adjusted to encourage the provision of these smaller loans. The Board and Department of the Treasury also issued a new frequently asked question clarifying that Paycheck Pr...
    11-05-2020, 10:48 PM
  • Staff Reporter 1
    SBA Offers Disaster Assistance to Maryland Small Businesses Economically Impacted by the Coronavirus (COVID-19
    by Staff Reporter 1
    U.S. Small Business Administration Offers Disaster Assistance to Maryland Small Businesses Economically Impacted by the Coronavirus (COVID-19) | site |




    (October 20, 2020) - - Today, October 20, 2020, the U.S. Small Business Administration (SBA) published the following information:

    ATLANTA – The U.S. Small Business Administration is offering low-interest federal disaster loans for working capital to Maryland small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19), SBA Administrator Jovita Carranza announced today. SBA acted under its own authority, as provided by the Coronavirus Preparedness and Response Supplemental Appropriations Act that was recently signed by the President, to declare a disaster following a request received from Gov. Larry Hogan on March 18, 2020.

    The disaster declaration makes SBA assistance available in the entire state of Maryland; District of Columbia and the
    ...
    10-23-2020, 12:35 PM
  • Staff Reporter 1
    Treasury and Federal Reserve Board Expand Measures to Enhance Liquidity and Flow of Credit to American Workers, Households, and Businesses
    by Staff Reporter 1
    Treasury and Federal Reserve Board Expand Measures to Enhance Liquidity and Flow of Credit to American Workers, Households, and Businesses | site |




    (March 23, 2020) - - Today (March 23, 2020), the U.S. Department of the Treasury published the following information:

    WASHINGTON – The spread of coronavirus has disrupted economic activity and put significant liquidity pressure on U.S. businesses. To immediately enhance liquidity and support American workers, households, and businesses through this challenging period, U.S. Treasury Secretary Steven T. Mnuchin today authorized the expansion of two recently launched facilities and the establishment of three new facilities to provide liquidity to the financial system pursuant to section 13(3) of the Federal Reserve Act.


    Expansion of the Money Market Mutual Fund Liquidity Facility (MMLF) and Commercial Paper Funding Facility (CPFF)

    Secretary Mnuchin today approved the expansion...
    03-24-2020, 07:09 AM
  • Staff Reporter 1
    Federal Reserve Board Announces Technical Change to Support the U.S. Economy
    by Staff Reporter 1
    Federal Reserve Board Announces Technical Change to Support the U.S. Economy and Allow Banks to Continue Lending to Creditworthy Households and Businesses | site |





    (March 23, 2020) - - Today, the Board of Governors of the Federal Reserve System published the following information:

    The Federal Reserve Board on Monday announced a technical change to support the U.S. economy and allow banks to continue lending to creditworthy households and businesses. The interim final rule will phase in gradually, as intended, the automatic restrictions associated with a firm's "total loss absorbing capacity," or TLAC, buffer requirements, if the levels decline. TLAC is an additional cushion of capital and long-term debt that could be used to recapitalize a bank if it is in distress. The change will facilitate the use of firms' buffers to promote lending activity to households and businesses. Over the past decade, U.S. banks of all sizes have built...
    03-23-2020, 11:46 PM
  • Staff Reporter 1
    Federal Reserve Board Encouraged by Increase in Discount Window Borrowing to Support the Flow of Credit to Households and Businesses
    by Staff Reporter 1
    Federal Reserve Board Encouraged by Increase in Discount Window Borrowing to Support the Flow of Credit to Households and Businesses | site |




    March 19. 2020) - - Today (March 19, 2020), the Board of Governors of the Federal Reserve System published the following information:

    The Federal Reserve Board is encouraged by the notable increase in discount window borrowing this week with banks demonstrating a willingness to use the discount window as a source of funding to support the flow of credit to households and businesses.

    This uptick follows the recent changes to the discount window announced by the Federal Reserve and the federal banking regulators' recent statement encouraging financial institutions to use the discount window. In that statement, the Federal Reserve and other federal regulatory agencies underscored the role of the discount window. By providing ready access to funding, the discount window helps depository institution
    ...
    03-23-2020, 10:57 AM

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