The Federal Reserve committed Monday to conducting more asset purchases of Treasury securities and mortgage-backed securities and announced $300 billion in new financing for credit facilities.
The California Association of Realtors told its members Friday to stop all face-to-face sales activities including showings, listing appointments, open houses and property inspections due to coronavirus concerns.
The COVID-19 pandemic has already given rise to false marketing of test kits and criminals impersonating the FDIC. Consumer advocates say the bureau could issue alerts as well as empower banks to help safeguard their customers’ funds.
Accommodations for borrowers affected by the coronavirus pandemic, such as payment delays and fee waivers, are "positive and proactive actions that can manage or mitigate adverse impacts," the regulators said.
The city and state haven't put dollar amounts on what they need but both were already facing budget and pension stresses before the public health crisis struck.
Updates on industry events impacted by coronavirus pandemic
The Fed allowing use of munis as collateral in its MMLF program won't fix all the problems caused by COVID-19 and may add issues.
The annual accounting and finance event in Las Vegas has been delayed until an unspecified time "later this year" due to the ongoing coronavirus outbreak.
Senior leaders at the No. 1 IBD meet daily about the pandemic as large enterprises set their own continuity plans into motion with an eye toward ensuring operations.
Some market professionals were quick to say that the step would not be sufficient to soften the blows hammering the wider muni market.