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Many big banks say they will focus on existing customers in offering credit through the Federal Reserve’s emergency lending program for midsize businesses. Complex vetting and fear of being inundated are said to be among their concerns.
July 9 -
But Boston Fed chief sees more interest among banks and borrowers if the economy worsens; the failed payments company is being investigated for its alleged role in a $100 million caper.
July 9 -
Banks participating in the Main Street Lending Program were able to register for and offer credit to businesses last month, but the Federal Reserve said Monday it was set to make the effort fully operational.
July 6 -
Participation in the Main Street Lending Program for midsize companies is partly about public service, but the core business rationale is building "a banking relationship that continues on for some time," the Boston Fed chief says.
June 23 -
Worried about a lack of demand and that some of their customers are ineligible, community banks are still on the fence about participating in the effort to back loans for businesses recovering from the pandemic crisis.
June 19 -
The central bank also asked for public feedback on a proposal to extend support for coronavirus relief loans to nonprofit organizations that were in sound financial condition before the onset of the COVID-19 pandemic.
June 15 -
The Federal Reserve Bank of Boston published details on the terms for lenders and borrowers to participate in the facility intended to provide coronavirus relief funds to middle-market firms.
May 28 -
Federal Reserve Bank of Boston President Eric Rosengren said he expects companies to begin receiving money through the central bank's long-awaited Main Street Lending Program within two weeks.
May 24 -
The central bank said its program to support money market mutual funds will also serve as a backstop for state and local governments.
March 20 -
The firm’s financial woes are mostly a result of overspending, but they have raised questions about how banks’ commercial real estate portfolios might fare if the coworking sector implodes.
October 7