Partner Reena Agrawal Sahni and counsel Tim Byrne (both New York-Financial Institutions Advisory & Financial Regulatory) spoke on an Institute of International Bankers webinar titled “Responding to the Pandemic: The CARES Act, the Federal Reserve Playbook and the Regulator Response – What Foreign Banks Need to Know” on April 2, 2020 at 2:00 pm ET.
With the passage of the CARES Act, the Federal Reserve and Treasury are poised to deploy an array of programs and facilities to help stem the economic fallout from the COVID-19 crisis. In this webinar, the speakers covered:
Key provisions of the CARES Act, including Treasury stimulus programs
Federal Reserve facilities, including the ability of branches of foreign banks and broker-dealer subsidiaries of foreign banks to participate in those facilities
Supervisory and regulatory guidance from federal and state banking regulators applicable to foreign banking organizations
For more information on the legal and compliance implications of COVID-19, visit Shearman & Sterling’s COVID-19 Resource Center.