Other Lending Programs

Originally published June 10, 2020.  Last updated on November 3, 2020.

On October 22, 2020, the Federal Reserve Bank of New York (“New York Fed”) released an amended form of Master Loan and Security Agreement (the “MLSA”), which governs loans issued under its Term Asset-Backed Loan Facility (“TALF”).  The amendments will be effective as of

Originally published on May 6, 2020. Last updated as of September 17, 2020.

On August 14, 2020, the Federal Reserve Bank of New York (the “New York Fed”) published an updated set of Frequently Asked Questions (“FAQs”) concerning the Primary Market Corporate Credit Facility (the “PMCCF”) and the Secondary Market Corporate Credit Facility (the “SMCCF,”

Health care providers’ receipt of Coronavirus Aid, Relief, and Economic Security Act and Paycheck Protection Program and Health Care Enhancement Act funds creates significant areas of potential liability for providers as these programs continue to change and evolve. As an accompaniment to our full in-depth guide, this is an overview of tips that providers can

CARES Act, Payroll Protection, and Medicare Advance Payment Programs
This document was last updated on July 20, 2020 to reflect changes made by the Department of Health and Human Services to its existing guidance.

In response to widespread cash flow issues resulting from the COVID-19 public health emergency, Congress enacted two key pieces of legislation:

On May 12, 2020, the Federal Reserve published an updated Term Sheet and a set of Frequently Asked Questions (“FAQs”) for the Term Asset-Backed Securities Loan Facility (“TALF”). The TALF program, which was first announced on March 23, 2020 and updated on April 9, 2020, will provide a funding backstop for eligible asset-backed securities (“ABS”).

On April 9, 2020, the Federal Reserve announced additional programs under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) to provide up to $2.3 trillion in loans and other investments to support the U.S. economy. These actions include:

  • Supplying liquidity to financial institutions participating in the Small Business Administration’s Paycheck Protection Program

On April 9, 2020, the Federal Reserve released an updated term sheet for the Term Asset-Backed Securities Loan Facility (“TALF”). The TALF program, which was first announced on March 23, 2020, will provide a funding backstop for eligible asset-backed securities (“ABS”) issued on or after March 23, 2020.[1] The updated term sheet expands the

On March 27, 2020, Congress passed and the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which provides approximately $2.2 trillion in relief programs to U.S. individuals, businesses, states and municipalities. Title IV of the CARES Act provides for up to $500 billion in loans and loan guarantees to,