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Member News
Member News
23
Jun
Policy was unchanged with FFR at 0.0-0.25%, forward guidance remained unchanged and the Fed committed to at least maintain the current pace of asset purchases.
The accompanying statement was mainly unchanged, describing “sharp declines” in activity, but acknowledging improvement in financial conditions.
The Fed published medium-term projections for the first time in six months. The Fed expects a slower rebound than we currently project for 2020, with more of a catch up in 2021.
Fed Chair Powell described...
22
Jun
On June 9, 2020, the U.S. Department of the Treasury (Treasury) announced via its Twitter account that it had launched a website dedicated to the monitoring and enforcement functions of the Committee on Foreign Investment in the United States (CFIUS or the Committee). The enforcement website, which includes an email tipline—both CFIUS firsts—is a visible indicator of the recent steady increase in CFIUS' monitoring of and enforcement actions aimed at foreign investment transactions. Now that CFIUS has largely finished...
22
Jun
The coronavirus pandemic hit the proverbial “pause button” on virtually all M&A deals that were on the cusp of completion. But businesses can take advantage of this hiatus to better position themselves to close their deals when markets reopen — yes, even in our new socially-distanced world.
It’s late February and you had an M&A deal that was well underway. A buyer was lined up. The projection models were all finished. The investment thesis was ironclad. You knew the value...
22
Jun
The coronavirus crisis is presenting companies with extreme challenges. A multitude of new topics and issues need to be addressed. For many sectors, the question also arises as to how to deal with (temporarily) underutilised staff. Other sectors, by contrast, are complaining about capacity shortages and need to increase staff numbers.
In the following we provide you with a set of building blocks that may help you to find your way out of the crisis. In addition to answers to...
19
Jun
For the first time since the European Commission’s €1.85 billion budget and Recovery Fund proposal, EU Heads of State and Government met on Friday (19 June) to seek an agreement on its substance. Considering the deep divisions between countries and different political alliances, Friday’s EU leaders’ summit was never expected to result in a breakthrough. Rather, most Heads of State and Government considered their online get together as an initial exchange of views and positions, as German Chancellor Angela...
19
Jun
On June 15, the Federal Reserve Board released proposed term sheets to expand the Main Street Lending Program to nonprofit entities in sound financial condition before the onset of the COVID-19 pandemic. The announcement seeks public comment on the new proposal which grants small and medium-sized nonprofits access to additional liquidity.
The Main Street Lending Program was established by the Federal Reserve Board with the Secretary of the Treasury under the CARES Act. The Federal Reserve Bank of Boston will...
19
Jun
Last Update on June 17 |
In collaboration with Thompson Hine's foreign law firm partners, they continue to update their chart of COVID-19 measures taken by governments around the world. The government measures in the chart include economic, labor and employment, health and safety, and export and import measures. Below is a list of the updated countries and a summary of the changes they are seeing.
View/Download the Country Guide: Government Measures in Response to COVID-19
Today’s update includes new information as...
19
Jun
ING announced today that Steven van Rijswijk, currently member of the Executive Board and chief risk officer of ING, will succeed Ralph Hamers as CEO and chairman of the Executive Board. The Supervisory Board has appointed Steven van Rijswijk effective 1 July 2020. As announced earlier, Ralph Hamers will leave ING to join UBS, where he will become CEO later in the year.
Hans Wijers, chairman of the Supervisory Board of ING said: “We are very pleased to appoint Steven,...
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