PH FedACTion: Financial Regulatory Updates

Daily Financial Regulation Update -- Wednesday, September 9, 2020

By FedACTion Task Force

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Major Developments

New York Fed Issues Revised FAQs for Municipal Liquidity Facility

September 8, 2020

The Federal Reserve Bank of New York revised the Frequently Asked Questions for the Municipal Liquidity Facility.  

• Revised FAQs

Congress

to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), Enacted March 27, 2020.

to view the full text of the Paycheck Protection Program Increase Act of 2020, Enacted April 24, 2020.

to view the full text of the Paycheck Protection Program Flexibility Act of 2020, Enacted June 5, 2020.

from the Senate Committee on Banking, Housing, and Urban Affairs, Senate Committee on Small Business and Entrepreneurship, House Committee on Financial Services, and House Committee on Small Business.

Federal Agencies

Fannie Mae

Housing Sentiment Regains Momentum After July Stumble

September 8, 2020

Fannie Mae released data detailing the continuing effects of COVID-19 on consumer confidence in housing. The Fannie Mae Home Purchase Sentiment Index® (HPSI) increased 3.3 points in August to 77.5, recovering after falling slightly in July, and continuing the rebound from May and June. Five of the six HPSI components increased month over month, with consumers reporting a more optimistic view of both home-buying and home-selling conditions, but a slightly more pessimistic view of expected home price growth. Year over year, the HPSI is down 16.3 points.

• Survey Summary

• Survey Data Release

• News Release