Congress and Financial Regulators: Responses to COVID-19
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Key takeaways:
- During the week of March 22, 2020, Congress passed powerful economic stimulus legislation and the federal banking, securities and derivatives agencies announced a series of emergency policy measures and regulatory statements intended as responses to the disruptions in economic and financial market conditions caused by the coronavirus disease 2019 ("COVID-19").
- These agency actions included the establishment of additional emergency funding facilities, interim final rules providing regulatory capital relief and statements aimed at reducing regulatory and supervisory burdens on financial institutions during the COVID-19 pandemic, among other things.