Clock to show you how much time is remaining. All members and witnesses need to be especially mindful of the fiveminute clock. At 30 seconds remaining ill , gently tap the gavel to remind members their time has expired. To simplify the speaking order process, the commission has decided to order ourselves alphabetically. With that, welcome to this virtual hearing convened by the congressional oversight commission, pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As part of our oversight work, the commission has decided to hold this hearing today which will examine the main Street Lending facilities. The Federal Reserve established the main Street Programs to support lending to small and mediumsized businesses, and nonprofit organizations that were sound before the covid pandemic. The program operates through five facilities which we will learn more about this morning.
Small and mediumsized businesses that were in sound Financial Condition before the virus impact of the economy we will hear from the head of the fed in boston and banking and business leaders. Will come tog order. This is a hybrid hearing meaning some of our commissioners are appearing in person and witnesses will testify remotely. Let me offer a few Video Conferencing reminders. Before you start speaking there will be a slight delay before you are displayed on the screen. Click the mute button until your turn to speak or to ask a question. If there is a technology issue, well move to the next speaker until it is resolved. You should all have one box on your screens labeled clock to show you how much time is remaining. Congressional Oversight Commission pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As a part of our oversight work, the commission has decided to hold
Commission has decided to order ourselves alphabetically. With that welcome to this virtual hearing convened by the Congressional Oversight Commission pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As part of our oversight work, the commission has decided to hold this hearing today which will exam examine the main Street Lending facilities. The Federal Reserve established the main Street Programs to support small and immediate you yumsized business answer Nonprofit Organization that is were in found sentence condition before the onset of the covid19 pandemic. The program operates through five facilities which we will learn more about this morning. The programs being administered by the Federal Reserve bank of boston todays hearing will have two panels. President eric rosengry. N, Federal Reserve bank of boston will testify during the first panel. Second panel will i
The minutes . Move approval. Second. Any Public Comment on the minutes of 23 of january . Hearing none, all those in favor . Aye. Opposed. The motion carries. Secondly, the january 28 minutes of the regular meeting. Are there any additions or corrections . Second. Public comment on the minutes of january 28. All in favour . Aye. Opposed . The motion carries. Lastly, the minutes of january 30, which was the special Budget Hearing number four. Any additions or corrections . Move to approve. Second. Public comment on the minutes of january 30. All in favour . Aye. Opposed. The motion carries. Next item, please. Item 4 is general Public Comment. Members of the public may address the commission on matters that are within the commissions jurisdiction and are not on todays agenda. President caen so i have two speaker cards in front of me. The first mr. Pecasa. Commissioners, my name is francisco de kosta. One of the positions i had in my life is i was six army and procedural San Francisco con
Before you have the minutes of three meetings, we will take them individually. The first, january 23, are there any additions or corrections to the minutes . Move approval. Second. Any Public Comment on the minutes of 23 of january . Hearing none, all those in favor . Aye. Opposed. The motion carries. Secondly, the january 28 minutes of the regular meeting. Are there any additions or corrections . Second. Public comment on the minutes of january 28. All in favour . Aye. Opposed . The motion carries. Lastly, the minutes of january 30, which was the special Budget Hearing number four. Any additions or corrections . Move to approve. Second. Public comment on the minutes of january 30. All in favour . Aye. Opposed. The motion carries. Next item, please. Item 4 is general Public Comment. Members of the public may address the commission on matters that are within the commissions jurisdiction and are not on todays agenda. President caen so i have two speaker cards in front of me. The first mr