Podcast: Crafting a New Bank Amid COVID-19
When the coronavirus pandemic began, Craft Bank was just about to begin its capital raise as a de novo community...
Commercial Lending
Fed Survey Highlights Pandemic Challenges for Older Entrepreneurs
Small businesses owned by older entrepreneurs—those over the age of 45—have been particularly affected by the COVID-19 pandemic, compared to...
ARRC Outlines Approach for Using SOFR in New Issuances of Securitized Products
With the publication of all tenors of London Interbank Offered Rate set to cease after June 30, 2023, the Alternative...
Senate Passes PPP Extension; Bill Goes to President
The Senate today voted 92 to 7 to pass a bill extending the Paycheck Protection Program.
ARRC Supplements Its Recommended Libor Fallback Language for Business Loans
As part of its ongoing effort to support the transition away from the London Interbank Offered Rate, the Alternative Reference...
ARRC: No Guarantee on Forward-Looking SOFR Term Rate in 2021
The Alternative Reference Rates Committee today said it “will not be in a position” to recommend a forward-looking term rate...
ARRC: USD Libor Exposure Grows as Cessation Deadline Nears
The volume of financial instruments that reference USD Libor has grown to $223 trillion, up from $199 trillion in 2016,...
SBA Issues Interim Final Rule Implementing PPP Changes
The Small Business Administration yesterday issued an interim final rule implementing changes to the Paycheck Protection Program that were included...
House Lawmakers Reintroduce Bill to Level Playing Field Between Banks, FCS
Reps. Ron Kind (D-Wis.) and Randy Feenstra (R-Iowa) yesterday introduced the American Bankers Association-backed Enhancing Credit Opportunities in Rural America...
Meeting Needs While Stopping Misdeeds
Five lessons from past Paycheck Protection Program fraud are reshaping how banks process PPP loans and forgiveness
