Next the director of the federal Housing Finance agency testifying on housing and mortgages during the coronavirus pandemic. House Financial Services Committee Members asked him how his agency is handling the rice in foreclosures and forbearances as well as the operations of fannie mae and freddie mac. The hearing runs over three hours. The committee will come to order. Before we begin, i want to remind members of a few matters including some required by the regulations accompanying House Resolution 965, which established a framework for Remote Committee proceedings. First, i would ask all members to keep themselves muted when theyre not being recognized. It will minimize disturbances while members are asking questions of our witnesses. Members are responsible for muting and unmuting themselves. The staff have been instructed not to mute members except when theyre not being recognized and theres background noise. Members are reminded that they may only attend one remote hearing at a ti
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.
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 body. Our clerk is here. I would like to thank madam clerk, do we have a name from sfgovtv . I think you are on mute, madam clerk. No, i am sorry. We did not receive the sfgovtv name. I would like to thank sfgovtv for broadcasting this meeting. Do you have any announcements. Due to the covid19 Health Emergency and to protect commissioners, City Employees and public, city hall is closed. Members will be participating in the meeting remotely. This precaution is taken pursuant to the various local, state federal orders and directives. Commission members will attend through Video Conference and participate to the same extent as if they were physically present. Public comment is available on each item on the agenda. Both channel 26 and sfgovtv are streaming the number across the screen. Opportunities to speak during the Public Comment period are available via phone by calling 415 6550001. Id1454037332. Then pound then pound again. When connected you will hear the discussions. You will b
Bloomberg television and bloomberg radio. Morning across this nation. All of you working at home, and good morning around the world, particularly in liver, great written Great Britain in liverpool, Great Britain. I want to get to the pandemic in a moment, but in Francine Lacqua conversation, i dont know if they brought of negative rates. Do you see negative rates in the United Kingdom . Jonathan if they couldnt negative Interest Rates, it will be up to the bank, not rishi sunak. And i hope it does not happen. Some policymakers have flirted with the idea over the last liverpool,ks area on saymichele texted me to hes very happy that his dear livable that his dear liverpool are now the champions in the merely. Cash in the premier league. Tom that gets us to the story of the moment, which is the pandemic area i was fascinated by the images in the telegraph in the times. Explain to us the oddity of seeing absolutely packed beaches in the United Kingdom, much like what we saw in florida. Jon