If the Federal government doesn't help, the $12 billion plan could be funded by the city selling "relief bonds."
A number of proposals have been floated for debt payment holidays and other types of moratoria, but such approaches offer solutions that are worse than the problems.
A memo circulated Wednesday by House Financial Service Committee Chairwoman Maxine Waters, D-Calif., suggests that the next wave of federal legislation authorize the Fed to support state, territory, and local debt issuance in response to the coronavirus outbreak.
Schools in 39 states had closed by Wednesday.
Officials and employees are working from home and doing inspections of U.S. audit firms remotely to protect them from infection.
Kansas Gov. Laura Kelly on Wednesday announced she was banning evictions and foreclosures for the next six weeks, adding to her administration's response to the unprecedented crisis caused by COVID-19.
While collapsing market prices do not present immediate worries for CLO managers, the prospect of future downgrades and defaults becomes more problematic.
Southern California's 2020 housing market got off to a good start before the pandemic shook the economy in mid-February, CoreLogic figures show, with both prices and home sales up in the six-county region from February 2019 levels.
Some institutions may rethink their sponsorship deals with professional sports teams now that several leagues have suspended their seasons because of the pandemic.
Employees are likely experiencing information overload right now, and unfortunately, not all of the content is valid.