May 7, 2020 | One of the most enticing reasons to obtain a loan under the Paycheck Protection Program (PPP) is the potential for the loan’s forgiveness.1 The federal Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized the U.S. Department of the Treasury to create the PPP through the Small Business Administration’s (SBA) 7(a) lending program.2 The loan forgiveness aspect allows employers to obtain business-saving funds without simply “kicking the can down the road” to face debt obligations in a financially...

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May 6, 2020 | As state and local governments (Issuers), and nonprofits and businesses that have borrowed through Issuers (Conduit Borrowers), face cash-flow difficulties, they may consider restructuring some of their tax-exempt obligations to reduce or defer payments on those obligations. The restructuring may be done in several ways, and there may be different tax consequences to the Issuer or Conduit Borrower depending on the option used. Of particular importance to the tax analysis are the rules that deem certain...

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On 5 May, German’s Constitutional Court (BVerfG) ruled in a long-awaited and controversial decision that the ECB’s ongoing government bond buying programme (PSPP) exceeded EU competencies, raising fundamental questions for the ECB and Europe’s legal order. In its ruling, the BVerfG’s argues that parts of the European Central Bank’s 2015 government bond-buying programme may be illegal under the Germany constitution. Through its ruling, which disregards and directly contradicts a previous European Court of Justice (ECJ) ruling, the BVerfG not just challenged the...

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May 8, 2020 | Late last month, the Chairman and Ranking Member of the U.S. Senate Committee on Environment and Public Works (EPW), Senators John Barrasso (R-WY) and Tom Carper (D-DE), released draft water resources and drinking water legislation, a significant step in the biennial process to maintain and improve America’s water and wastewater infrastructure. The two bills, the America’s Water Infrastructure Act of 2020 (“AWIA 2020”) and the Drinking Water Infrastructure Act of 2020 (“DWIA 2020” and, together with AWIA 2020,...

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May 7, 2020 | The tide turns as key sentiment indices show compelling reversal insignia reflecting phase ‘opendown’ and rising prophylactic optimism. Key Takeaways • Media hype for covid-19 edges below the key 50% level • Worldwide news sentiment surges higher as optimism returns • Using insider trading data on our platform can help traders time market turns CONTINUE READING... The free Coronavirus News Monitor can be accessed on https://coronavirus.ravenpack.com/ Compliments of RavenPack International SL - a member of the EACCNY.

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