By: Celeste Mitchell-Byars , PRACTICAL GUIDANCE This article examines the recent U.S. bank failures and the risk of cryptocurrency assets at insured depository institutions. IN EARLY MARCH 2023, THREE U.S. BANKING INSTITUTIONS failed, resulting in increased...
By: Christine N. Walz, Cynthia A. Gierhart, and Madelaine J. Harrington The Freedom of Information Act (FOIA) is a federal statute that mandates public access to certain U.S. government and administrative agency records upon submission of a request to the appropriate...
By: Edward J. Hannon and Nicole A. Bashor On June 23, 2016, voters in the United Kingdom (UK) were asked to determine whether the UK should leave the European Union (EU). The result of the referendum was in favor of leaving. Under what has become known as Brexit...
By: Eric S. Yoon , K&L Gates LLP This article covers Sections 23A and 23B of the Federal Reserve Act (FRA), which establish certain quantitative limits and other prudential requirements for loans, purchases of assets, and certain other transactions between...
By: David K. Duffee , Mayer Brown Bankers, lawyers, and others involved in the loan market’s transition from the London Interbank Offered Rate (LIBOR) to another reference rate have spent much of the past two years thinking about and drafting fallback provisions—the...
By: Jason Amster , Practical Guidance This article describes how you should proceed when your client calls and asks what happens to their loan documents after the pending cessation of London Interbank Offered Rate (LIBOR) at the end of 2021. LENDER AND BORROWER...
By: Michael Chernick , Tomasz Kulawik , Mohamed El-Sayed , and Lisseth A. Rincon Manzano , Shearman & Sterling LLP This article describes the terms of the facilities available under the Main Street Lending Program, in addition to providing practice tips to...