Notably, the country’s largest lender has already cut interest rate by 75 basis points to pass on the complete rate cut benefits to its borrowers availing loans linked to external benchmark linked lending rate (EBR) and repo linked lending rate (RLLR).
At this point, $66 billion in loans have been committed, which is obviously well short of the $349 billion initially allocated. But the volume for requests has been enormous, according bank executives, and the glitches and technical difficulties with the program have created an extremely long and drawn out process. That has led to significant […]
Nashville | News | 1h Nashville | News | 1h John Prine, Who Chronicled The Lives Of The Everyman, Dies At 73 Singer-songwriter John Prine, one of America’s most beloved storytellers, died of complications of the coronavirus illness.
“It was a very tough day for us. But, fortunately, we have an online business as well that continues to support us through the sale of coffee beans and merchandise. And, our employees — I’m excited to bring back to work, back on the payroll, so that they can help with writing handwritten notes that are […]
Similarly, JPMorgan Chase’s online application system had been down with a note stating it would “be back up shortly,” finally announcing Monday afternoon that customers can now apply online. The website still notes that “[f]unds are limited and subject to availability from the SBA,” cautioning customers that they may not end up getting what they […]
The toll has been particularly somber in Los Angeles County, which reported 28 deaths Saturday, the largest one-day increase since the coronavirus pandemic began. Los Angeles County on Sunday announced 15 additional deaths, raising the total to more than 130.
Mnuchin told CNBC the Treasury has been actively working with the Federal Reserve on the Main Street facility designed for businesses with more than 500 employees, adding: “We hope to have an announcement this week with the details on that and get it up and running as soon as we can.”
“This will enable the hundreds of buy- and sell-side firms that would have come into scope to focus their resources on ensuring business continuity, managing risk and supporting their customers,” said Scott O’Malia, chief executive of the International Swaps and Derivatives Association.
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Sen. Sheldon WhitehouseSheldon WhitehouseDemocratic senators call on domestic airlines to issue cash refunds for travelers Overnight Energy: Coronavirus package punts on environmental fights | Court sides with tribes in Dakota Access Pipeline case | Trump officials walk away from ethanol court fight Coronavirus package punts on environmental fights MORE (D-R.I.) on Tuesday accused McConnell of trying […]