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Articles by B. Taber Cathcart
Federal Enactment of Adjustable Interest Rate (LIBOR) Act | JD Supra
On March 15, 2022, President Biden signed the Consolidated Appropriations Act of 2022 into law, which includes the Adjustable Interest Rate (LIBOR) Act. This legislation establishes a uniform benchmark replacement process for financial contracts that mature after the cessation of the London Interbank Offered Rate (LIBOR) (scheduled for June 30, 2023) which do not contain clearly defined or practicable fallback provisions.
[Webinar] Keeping Out of the Weeds in Corporate and Financial Transactions - October 12th, 12:00 pm - 1:00 pm EDT | JD Supra
October 12th, 2021 12:00 PM - 1:00 PM EDT Learn the basics for structuring and financing your cannabis business and managing supply chain issues as you grow. Topics include: M&A, equity raising - Hot topics when selling or seeking equity financing for a cannabis business.
ARRC Formally Recommends Term SOFR and Related Loan Conventions in Major Step Towards LIBOR Cessation
Legal Disclaimer You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only.
President Biden Signs Executive Order Revitalizing Regulatory Oversight of Banks and Encouraging New Consumer-Friendly Portability Rules | JD Supra
On July 9, 2021, President Biden signed the wide-ranging Executive Order on Promoting Competition in the American Economy, aimed at increasing competition in all sectors of the American economy, including banking and consumer finance. The Biden administration also released a Fact Sheet in support of the Executive Order.
President Biden Signs Executive Order Revitalizing Regulatory Oversight of Banks and Encouraging New Consumer-Friendly Portability Rules
Legal Disclaimer You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only.
LIBOR Administrator Signals the Phase-Out of LIBOR to Begin in 2022 | JD Supra
On November 30, 2020, the ICE Benchmark Administration Limited (IBA), the administrator of the London Interbank Offered Rate (LIBOR), announced that it would consult on its plan to cease the publication of one-week and two-month USD LIBOR immediately after December 31, 2021 and to cease the publications of the remaining tenors of USD LIBOR (one, three, six, and 12-month) immediately after June 30, 2023.
Part III: The RESTART Act and the Long-term Recovery Sector Loan Program
Wednesday, August 26, 2020 This is the third alert in our four-part series on the Phase 5 coronavirus negotiations titled “Coronavirus Stimulus Legislation: A Primer on Phase 5 Negotiations.” You can find Part I (President Trump’s Executive Actions) here and Part II (PPP Revisions and Second PPP Loans) here. This alert focuses on the two longer term lending programs that are currently on the negotiating table.
Main Street Lending Program Expands (Again!) | JD Supra
Less than two weeks after releasing additional details and Frequently Asked Questions surrounding the $600 billion Main Street Lending Program (MSLP), on June 8, 2020 the Board of Governors of the Federal Reserve (Federal Reserve) released updated term sheets and FAQs containing several key changes to allow even more small- and medium-sized businesses to participate in the program. Federal Reserve Chair Jerome H.
Main Street Lending Program Set to Launch - Additional Terms and Guidance Released | JD Supra
On May 27, 2020, the Federal Reserve Board, through the Federal Reserve Bank of Boston, released additional details for lenders and borrowers interested in participating in the $600 billion Main Street Lending Program (MSLP). The MSLP is aimed at providing direct assistance to companies that were relatively healthy at the end of 2019 but were detrimentally impacted by the COVID-19 pandemic.
Main Street Lending Program Set to Launch
Tuesday, June 2, 2020 On May 27, 2020, the Federal Reserve Board, through the Federal Reserve Bank of Boston, released additional details for lenders and borrowers interested in participating in the $600 billion Main Street Lending Program (MSLP). The MSLP is aimed at providing direct assistance to companies that were relatively healthy at the end of 2019 but were detrimentally impacted by the COVID-19 pandemic.
Update to Main Street Lending Program Federal Reserve Announces Revised Terms & FAQs | JD Supra
On April 30, 2020, the Board of Governors of the Federal Reserve (Federal Reserve) announced revised terms for its $600 billion Main Street Lending Program. These include a third financing facility titled the Main Street Priority Loan Facility (MSPLF) and significant modifications to its previously announced Main Street New Loan Facility (MSNLF) and Main Street Expanded Loan Facility (MSELF).
Update to Main Street Lending Program Federal Reserve Announces Revised Terms & FAQs
Monday, May 4, 2020 On April 30, 2020, the Board of Governors of the Federal Reserve (Federal Reserve) announced revised terms for its $600 billion Main Street Lending Program. These include a third financing facility titled the Main Street Priority Loan Facility (MSPLF) and significant modifications to its previously announced Main Street New Loan Facility (MSNLF) and Main Street Expanded Loan Facility (MSELF).
Main Street Lending Program: Issues, Questions and Proposed Changes | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
Main Street Lending Program: Issues, Questions and Proposed Changes
Monday, April 27, 2020 On April 9, 2020, as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the Treasury and the Federal Reserve Board (Federal Reserve) unveiled the Main Street Lending Program (MSLP), aimed to provide emergency liquidity to small and mid-sized businesses experiencing losses caused by the COVID-19 pandemic.
In the Context of Corporate Lending, Should Parties Push the Pause Button? | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
In the Context of Corporate Lending, Should Parties Push the Pause Button?
Thursday, March 26, 2020 The COVID-19 pandemic has wreaked havoc on financial markets and businesses around the world. In a time of social distancing, constrained supply chains, depressed demand in almost all sectors of the economy, and tightening of the credit markets, many borrowers stand to suffer devastating effects. For this reason, participants in credit markets must review existing credit facilities and assess how best to move forward.
LIBOR to SOFR – Five Things Every Financial Services Provider Should Know | JD Supra
1. What is LIBOR and why is it going away? The London Interbank Offered Rate, or “LIBOR,” is a reference rate commonly used in a broad range of financial contracts. In fact, it serves as a reference rate for tens of millions of contracts worth about $200 trillion in the US alone1. LIBOR is hardwired into bilateral loans, syndicated loans, securitizations, adjustable-rate mortgages, derivatives and more. In short, it’s embedded into the global financial market in a systemic way.
LIBOR to SOFR – Five Things Every Financial Services Provider Should Know
Tuesday, March 10, 2020 1. What is LIBOR and why is it going away? The London Interbank Offered Rate, or “LIBOR,” is a reference rate commonly used in a broad range of financial contracts. In fact, it serves as a reference rate for tens of millions of contracts worth about $200 trillion in the US alone1. LIBOR is hardwired into bilateral loans, syndicated loans, securitizations, adjustable-rate mortgages, derivatives and more.
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