Emergency Mitigation Fund (FOME, per its acronym in Spanish) is a fund without legal status of the Ministry of Finance and Public Credit and will aim, within the framework of Decree 417 of 2020, to meet the needs of resources for health care, the adverse effects generated on the productive activity and the need for the economy to continue providing conditions that maintain employment and growth ...
As a response to the financial tensions triggered by the dissemination of Covid-19, the ChileanCentral Bank (BCCh) has announced a series of measures aimed at granting liquidity to theeconomy, support the flow of credit and the conveyance of the monetary policy. A core component of these measures is that of a Credit Facility Conditioned to the Increase inPlacements (FCIC) ...
On March 25, 2020, the SEC issued an order granting temporary relief from the filing deadlines for certain SEC filings due between March 1, 2020, and July 1, 2020. This order supersedes the SEC’s March 4 order ...
The General Meeting during the State of Emergency? Can it take place? And can it be convened? Do crisis measures contain an exception for meetings of the statutory organs of the company (e.g ...
The current uncertainty in the world economy and the losses in the national stock market, generates concern about possible damage to the economy, derived from the pandemic caused by the virus COVID-19 ...
On March 24, Juan Carlos Jiménez Rojas, General Director of the Mexican Banking Association (Asociación de Bancos de México) (“ABM“), sent a letter to the President of the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) (“View More
Due to the expanding impact of the Coronavirus (COVID-19), physical distancing and remote work policies have increased adoption by companies of electronic signature platforms such as DocuSign, Adobe Sign, SignNow, and others (hereinafter, the “platforms”) in handling internal approvals and also executing commercial documents ...
On 16 March 2020 the Polish Bank Association (ZBP) published astatement on helpful actions to be undertaken by Polish banks in connection with the COVID-19 pandemic. The statement clearly shows that banks recognise the need to take urgent action in response to anticipated difficulties borrowers will have in performing their obligations ...
In order to alleviate the effects of the coronavirus, the Swedish government has proposed a crisis package that includes proposals for strengthening companies’ liquidity through the tax account, a new system for short-term working and the state taking over responsibility for sick-leave payment for two months. It is of course our hope that these proposals will result in most companies managing the effects of the coronavirus ...
The M&A market has entered a volatile period, but there are several strategies that you as a seller or buyer can use to navigate your deal through to completion. These strategies may be particularly relevant for buyers who have secured financing or large cash reserves. We also expect that it will generally be a buyer’s market for some time to come. Read this article as a PDF here. Purchase price mechanism ...
Waller’s Financial Technology practice has been providing advice to processors, banks, ISOs, financial technology providers, merchants and other participants in the payment processing ecosystem for over forty years ...
This news alert includes information on the way in which the authorization for safe passage permits shall be granted on account of the nighttime curfew that stands in Chile as of the evening of this Sunday 22 March 2020, as an additional measure to face the Covid-19 pandemic: Individual safe-passage permit Collective safe-passage permit Permanent authorization for emergency personnel Authorization for companies and people who carry out transport of goods Airport Staff Passengers
Financial Market Commission Announces a Package of Measures to Facilitate Credit Flow to Both Companies and Individuals By Diego Peralta and Diego Lasagna On March 23, 2020, the Financial Market Commission’s Council (“CMF”) approved new measures destined to grant more flexibility to the financial system, in the context of the coronavirus Covid-19 global outbreak ...
Upon the sanitary emergency triggered by COVID-19 and the consequential slowdown for commerce and the economy in general, it is likely that many companies will lack the liquidity to face payments for their creditors, suppliers, personnel, etc ...
Article 1 of Decree 466 states that the National Guarantee Fund S.A. (hereinafter "NGF") must comply with and accredit a solvency ratio, which is determined based on the technical assets that must have a direct relationship with the risk assumed in its capacity as guarantor ...
On March 22, 2020, the Federal Reserve Board, the FDIC, the National Credit Union Administration, the Office of the Comptroller of Currency, the Consumer Financial Protection Bureau and state banking regulators (collectively, the “agencies”) published an interagency statement on loan modifications and reporting for financial institutions working with customers affected by COVID-19 ...
A range of legislative and legal initiatives have been taken in recent days to control the spread of the SARS-CoV-2 coronavirus epidemic. How will temporary closing of borders and mandatory hospitalisation impact carriers’ liability in international transport of goods by road? Legal solutions adopted Faced with the SARS-CoV-2 coronavirus epidemic, the Polish government has decided to take drastic legal measures ...
On March 22, 2020, several federal financial institution regulatory agencies and state banking regulators issued an interagency statement encouraging all financial institutions to work constructively with borrowers impacted by the ongoing Coronavirus Disease 2019 (“COVID-19”) ...
The U.S. Small Business Administration (SBA) is an independent agency of the federal government established to provide assistance and protection in the interest of small businesses. Among its funding programs, the SBA Disaster Assistance program provides low interest loans to help businesses and homeowners to recover from declared disasters – usually for events such as hurricanes or floods ...
Co-authored by MV Credit Partners LLP As the world watches the spread of COVID-19 across all continents, global economies are reacting to the impact and trying to foresee eventualities to mitigate the inevitable loss. There are some industries that will undoubtedly be more effected than others, and as with any economic crisis this will have a knock-on effect ...
The COVID-19 pandemic has hit small businesses particularly hard. And, the Small Business Administration’s disaster loan program can offer many of those small businesses a lifeline. But, it can be daunting to know what relief is available (and for what purpose), who qualifies, and how to apply. This is what you need to know. The SBA has two types of disaster loan programs—one through banks and one directly from the SBA via the U.S. Treasury ...
As we all know by now, much of our day-to-day lives have been upended by the COVID-19 pandemic. We are being told by everyone everywhere - the CDC, the President, governors, mayors, public health officials - we need to flatten the curve of the virus' natural exponential spread by practicing social distancing and aggressive hand washing ...
