Banking systems, the impact of covid19, and communities of color. This runs an hour and 45 minutes. Today we welcome the regulators, the comptroller of the currency, brian brooks. The federal deposit insurance corporation, jelena rodney hood. Since the passage of the coronavirus aid relief and Economic Security act or cares act of your agencies have taken many meaningful steps to mitigate the meaningful impact of the pandemic and provide conditions that will lead to a forceful recovery. On october 30, the Federal Reserve announced changes to its main Street Lending facility including decreasing the minimum loan size for priority loan facilities from 250,000 to 100,000, and allowing borrowers loan for theirpp outstanding debt. Your agency should continue to carefully review the regulatory and supervisory frameworks, adjusting where necessary to bolster Financial Institutions to support economic recovery, which, by the way, has shown positive signs over the past several months. On octobe
Comptroller of the currency, the Senate Banking Committee Received a 6month update on the state of Banking Systems, the impact of covid19 and support for Small Business owners in communities of color. This runs an hour and 45 minutes. Today we welcome to this virtually hearing the federal prudential regulators, Federal Reserve vice chairman Randal Quaries, office of the comptroller, brian brooks, chairman of yellen and mcwilliams, chairman of the National Credit administration rodney hood. We will receive testimony from each agency on efforts, activities, objectives and plans since we last testified before the committee. As well as an update on covid19 related actions. Since the passage of the coronavirus a relief and Economic Security act or cares act your agencies have taken many meaningful steps to ameliorate the Economic Impact of the pandemic as you provide conditions that will lead to a forceful recovery. On october 30th the Federal Reserve announced changes to its facility inclu
Minutes. This runs an hour and 45 minutes. Sen. Crapo today, we welcome the regulators, the comptroller of the currency, brian brooks. Chair of the federal deposit insurance corporation, Jelena Mcwilliams, and rodney hood. We will receive testimony from each agency on efforts and plans since you last testified before the committee. Since the passage of the coronavirus aid relief and Economic Security act, or cares act, your agencies have taken many meaningful steps to mitigate the Economic Impact of the pandemic and provide conditions that will lead to a forceful recovery. Lead to a forceful recovery. On october 30, the Federal Reserve announced changes to its main Street Lending facility on october 30, the Federal Reserve announced changes to its main Street Lending facility including decreasing the minimum loan size for priority loan facilities from 250,000 to 100,000, and allowing borrowers to deduct any ppp loan for their outstanding debt. Loan for their ppp outstanding debt. Your
Experiencing unprecedented declines in activity. Although the remains considerable uncertainty about the economy, we know that the Banking System has served as a source of strength throughout this period. They have supported their customers and committees by pppinating 500 million in loans. The Banking Systems ability to support the economy reflects the Industries Strong capital and liquidity position. In the Second Quarter of 2020, Equity Capital increased to more than 2. 1 trillion, which 13. 4 . Ted to highervels were slightly than the quarter preceding the pandemic. Taken meaningful action to provide banks while maintaining safety and soundness. I will provide an update in five areas in which we have made significant progress. Supporting communities in need, encouraging outstanding loan making. I would like to briefly touch on each of those, starting with our response to the Economic Risks related to covid19. We undertook a series of actions that helped maintain stability in financ
Host lived i was before we start on his new fascinating book of yours, the trump century, you worked on and on cnn 30 years with a variety of shows, not an orthodox republican obviously not a liberal democrat. So what is the formula that allowed you to exist for three decades did you have a particular relationship with ted turner . Enlighten us. It was helpful i joined cnn 1980 at the beginning i was one of the founders of cnn one of the fortunate ones they are president to creation it was a spectacular place to work because it was a thought of before ted turner the global cable news cast and putting that into action but it was truly remarkable. And the change over time as these do and we founded in 1980 and by 1984 he was on the forbes wealthiest list and basically was on the verge of bankruptcy just four years earlier when he founded it. So his position changed so did hours we are in the white house pull and growing and over tim time, his commitment, teds commitment to a more liberal