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Daily Financial Regulation Update -- Tuesday, November 3, 2020
By FedACTion Task Force
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Congress
Federal Agencies
Federal Reserve Bank of New York
New York Fed Issues Revised FAQs for the Term Asset-Backed Securities Loan Facility
November 2, 2020
The Federal Reserve Bank of New York (New York Fed) has updated its Frequently Asked Questions (FAQs) for the Term Asset-Backed Securities Loan Facility (TALF).
Securities and Exchange Commission
SEC Division of Enforcement Publishes Annual Report for Fiscal Year 2020
November 2, 2020
The Securities and Exchange Commission’s Division of Enforcement (Division) issued its annual report for fiscal year 2020. The report details the Division’s COVID-19-related enforcement efforts.
International
UK Financial Conduct Authority
FCA to Announce Further Support for Mortgage Borrowers Impacted by Coronavirus
October 31, 2020
The Financial Conduct Authority (FCA) announced that it will propose updates to its guidance to support mortgages borrowers following the government’s announcement of further measures to control the spread of the coronavirus. The FCA will propose that mortgage borrowers who have not yet had a payment deferral be able to request one, which could last for up to six (6) months. Additionally, borrowers who already have a payment deferral for a period of less than six (6) months would be able to extend that deferral. Customers would be able to have a payment deferral for a maximum of six (6) months.