Banking

Ginnie Mae is offering temporary relief related to its acceptable delinquency-rate threshold in response to issuers' need to fulfill the forbearance requirements in the coronavirus rescue package.

The Federal Reserve's unprecedented scale of intervention sparked an immediate surge in demand for both investment-grade and junk bonds. Now that the program has started buying, it’s unclear what happens when – and if – the funding runs out.

The agencies produced an application process that includes favorable interpretation of qualifying expenses.

The central bank's Financial Stability Report said companies may face difficulties repaying debt given lower earnings, “which could trigger a sizable increase in firm defaults."

J.C. Penney Co., the department-store chain that’s been negotiating with creditors on a plan to restructure in bankruptcy court, made good on a missing loan payment and said it’s still considering solutions to its crushing debt load.

The Federal Reserve said a facility designed to purchase eligible corporate debt from investors will launch today, bringing a key part of the U.S. central bank’s emergency coronavirus lending program online following weeks of anticipation

The agency is being methodical in its rollout of the Main Street Lending Program in hopes of avoiding missteps that followed the launch of other coronavirus relief efforts. But observers say delaying aid brings its own risks.

Banks could end up holding many low-rate Paycheck Protection Program loans on their books for two years, and dealing with irate borrowers who failed to meet federal requirements for forgiveness.

PACE sponsors are raising capital and promoting plans to retroactively fund stalled CRE projects amid the COVID-19 outbreak, giving a potential boost to ABS activity in the space.

The worst recession since the Great Depression is prompting indebted companies to default, and increasingly more will do so in a way that’s harder for investors to detect.

The group that worked with the Fed to devise an alternative rate to Libor rejects criticism that the index favors megabanks.

Because of debt restrictions in Main Street lending programs, many speculative-grade borrowers appear ineligible for federal loans to alleviate COVID-19 stresses, according to a new report from Fitch Ratings.

The Federal Reserve also said in a supervisory report released Friday that it would conduct stress tests this quarter as planned, taking into account sudden deterioration in the economy brought on by the coronavirus pandemic.

First, J. Crew. Now Neiman Marcus. Flashing red: J.C. Penney, Hertz and many more. The coronavirus has crushed the life out of some venerable household names.

Up to 12% of loans under the $660 billion small-business rescue program could be tied to misleading or completely phony applications, fueling concerns about lenders' potential liability.

Lenders that scrambled to grant forbearance as the coronavirus pandemic took hold are unsure about the extent of potential losses.

Small and mid-sized companies are facing higher borrowing costs as private lenders grow more cautious about lending to beaten-up businesses

Over 236,000 prime and subprime vehicle-loan borrowers received payment deferrals of between 30 and 120 days during the early economic turmoil of the coronavirus pandemic, according to the ratings agency.

The Fed has tweaked its Main Street Lending Program to stir more enthusiasm, including the creation of a third financing option for larger companies. Will it make a difference?

Small businesses that received loans from the Paycheck Protection Program pandemic still don’t know how much they may have to repay after the government missed a deadline to give specific guidance.