Welcome to the COVID-19 Regulatory Response Tracker

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We are Boston College Law School faculty working in the areas of legislation, regulation, taxation, and markets. This website will track legislative, regulatory, and other responses relating to the economic and financial aspects of the coronavirus (COVID-19) crisis.

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Latest from the Tracker

Federal Reserve Board releases new term sheet for the Primary Market Corporate Credit Facility

On June 29th, the Federal Reserve issued a term sheet and commenced its program to support issuance of new debt by large employers. The Primary Market Corporate Credit Facility (PMCCF) will give companies access to credit by either (i) purchasing qualifying bonds as the sole investor in a bond issuance, or (ii) purchasing portions of…

GAO Releases Report on Federal Response to COVID-19 Pandemic as of June 2020

On June 25, 2020, the GAO released its report assessing and evaluating the major federal actions in response to the COVID-19 pandemic, including the CARES Act expenditures. The report, critical of the delay in comprehensive reporting of government COVID-19 expenditures permitted by OMB, drew on data directly from agencies. Among the key findings highlighted by…

Federal Reserve Board releases results of stress tests and imposes restrictions on share repurchases and dividend payments by large banks

In its assessment, the Board noted that “the stress brought on by the COVID event has been larger than anticipated,affected sectors of the economy in a highly unusual way, and could result in an unusual relationship between the economic and financial factors and credit losses, in part because of extraordinary government actions.” The stress tests…