Coronavirus Large Business Interruption Loan Scheme and Financial CHOICE Act: Difference between pages

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''COVID-19 - business continuity - UK.''
''US bank regulation''.


(CLBILS).
A bill to repeal substantial parts of the Dodd-Frank Act, that was not fully enacted.


The CLBILS is designed to provide UK government guarantees of 80% to enable banks to make loans of up to £200m, offered to medium and large sized firms with a turnover of over £45m per annum that have been impacted by COVID-19 who are unable to secure regular commercial financing.
CHOICE is an acronym for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs.




To be eligible, a business must:
<span style="color:#4B0082">'''''Dodd-Frank replacement unveiled'''''</span>


#Be UK-based in its business activity.
:In an ambitious plan to undo the US Dodd-Frank financial reform law, the head of the US House of Representatives banking panel has released a second draft of a replacement act.
#Have an annual turnover over £45 million.
#Be unable to secure regular commercial financing.
#Have a borrowing proposal which the lender:


::(a) would consider viable, were it not for the COVID-19 pandemic; and
:... Republicans including President Trump believe Dodd-Frank, which has not been fully enacted, is unduly burdensome on banks and businesses, and restricts lending.


::(b) believes will enable the borrower to trade out of any short-term to medium-term difficulty.
:''The Treasurer magazine, May 2017, p8''




==See also==
<span style="color:#4B0082">'''''Financial CHOICE Act died, but parts of it were incorporated into other bills'''''</span>
* [[Bounce Back Loan Scheme]]
*[[British Business Bank]]
*[[Business continuity plan]]
*[[Contingency plan]]
*[[COPD]]
*[[Coronavirus]]
*[[Coronavirus Business Interruption Loan Scheme]]
*[[Coronavirus Job Retention Scheme]]
*[[COVID-19]]
*[[COVID-19 Corporate Financing Facility]]
*[[Disaster recovery planning]]
*[[Financial stability]]
*[[Liquidity management]]
*[[Stranded middle]]
*[[WFH]]


:This bill would make sweeping changes to the financial regulatory system by revising the changes that were put in place after the 2008-2009 economic crash. The bill would weaken the Consumer Financial Protection Bureau, the Financial Stability Oversight Council, and regulations that prevent commercial banks from trading for their own gain, among other changes.


==Resources for COVID-19==
:This bill was introduced in a previous session of Congress and was passed by the House on June 8, 2017 but was never passed by the Senate. Provisions of this bill were incorporated into other bills.
[https://www.treasurers.org/hub/technical/covid19 ACT technical - COVID-19]


[https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses UK government: support for businesses]
:''US GovTrack, accessed May 2020.''


[https://www.gov.uk/coronavirus UK government: COVID-19 support hub]
 
== See also ==
* [[Dodd-Frank]]
*[[Too Big To Fail]]
*[[Vickers Report]]
* [[Volcker Rule]]
 
 
===Other links===
 
[http://uk.practicallaw.com/3-502-8950 Summary of the Dodd-Frank Act: Swaps and Derivatives, Practical Law]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Corporate_finance]]
[[Category:Investment]]
[[Category:Long_term_funding]]
[[Category:Cash_management]]
[[Category:Financial_products_and_markets]]
[[Category:Liquidity_management]]

Revision as of 20:19, 1 April 2022

US bank regulation.

A bill to repeal substantial parts of the Dodd-Frank Act, that was not fully enacted.

CHOICE is an acronym for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs.


Dodd-Frank replacement unveiled

In an ambitious plan to undo the US Dodd-Frank financial reform law, the head of the US House of Representatives banking panel has released a second draft of a replacement act.
... Republicans including President Trump believe Dodd-Frank, which has not been fully enacted, is unduly burdensome on banks and businesses, and restricts lending.
The Treasurer magazine, May 2017, p8


Financial CHOICE Act died, but parts of it were incorporated into other bills

This bill would make sweeping changes to the financial regulatory system by revising the changes that were put in place after the 2008-2009 economic crash. The bill would weaken the Consumer Financial Protection Bureau, the Financial Stability Oversight Council, and regulations that prevent commercial banks from trading for their own gain, among other changes.
This bill was introduced in a previous session of Congress and was passed by the House on June 8, 2017 but was never passed by the Senate. Provisions of this bill were incorporated into other bills.
US GovTrack, accessed May 2020.


See also


Other links

Summary of the Dodd-Frank Act: Swaps and Derivatives, Practical Law