Finance

The central bank will prioritize monitoring and outreach while reducing examination activity due to the coronavirus pandemic until at least the end of April.

The Fed announced several new lending facilities and virtually “unlimited” purchases of Treasury bonds; Ana Botín will donate the money to a coronavirus fund.

The central bank's sweeping actions suggest a cash shortage gripping sectors directly hit by the pandemic. Banks were supposed to be protected by Dodd-Frank but are still vulnerable to a funding domino effect.

The Federal Housing Finance Agency authorized the government-sponsored enterprises to lend additional support to the mortgage-backed securities market and temporarily allow some flexibility in lending requirements to address coronavirus-related concerns.

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 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.

BofA, JPMorgan said they are paying bonuses to branch and call center employees; the bank says removing the $1.9 trillion limit on growth will help it lend to more customers in need.

The central bank said its program to support money market mutual funds will also serve as a backstop for state and local governments.

Organizers of Coastal Community Bank must raise $19.5 million before opening.

The agencies said banks could receive Community Reinvestment Act credit for activities addressing the virus fallout, and clarified earlier guidance encouraging banks to dip into their capital buffers.

The expansion of the dollar swap lines allows foreign central banks to meet the needs of companies and financial institutions rushing for dollars as the global payments system undergoes severe strain due to the coronavirus.

The Money Market Mutual Fund Liquidity Facility, established under the central bank’s emergency authority, echoes a version that was set up during the global financial crisis.

Payhawk, a European paperless expense management provider, has raised €3 million (about $3.3 million) in a seed funding round led by Earlybird Venture Capital.

Dozens of firms in industries most immediately hit by the virus and oil-price war — such as leisure, transportation, health care, energy and mining — have been drawing billions of dollars from existing credit lines.

The Federal Reserve's support for the commercial paper market made clear that it was willing to go beyond cutting interest rates, but the central bank may feel pressure to do even more as the crisis worsens.

Southeast Asian ride-hailing giant Gojek has raised $1.2 billion for expansion, defying tech-sector turbulence and the coronavirus pandemic to secure funds to take on Grab Holdings Inc.

Bankers say they understand the need for an extraordinary government response to the coronavirus outbreak, but worry that even slashing interest rates won’t stimulate demand.

Triad Business Bank, which will immediately have offices in three cities, will debut next week.

Mastercard is working with Samsung to launch its Pay on Demand platform in emerging markets to drive financial inclusion.

Coronavirus concerns, along with the Fed's emergency rate cut and an erratic stock market, have forced most bankers to take pause and reassess potential deals.