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
Without objection the chair is authorized to declare recess at any time. Let me begin by saying the practice will continue to apply during remote hearings. We must continue to the rules of the committee and the house. Members are reminded the technology they are utilizing today the committee will operate in accordance with Solutions Vendor the subsequent guidance with respect to the rights of all of the members that participate. Please keep your camera on and also to participate in others like this one they prevented them from being recognized in the questions and i would move to the next available member and recognize the time provided they return to the proceedings. I will recognize that for the remainder of the time and if they witness loses connectivity during the testimony or questioning. It from the seventh Congressional District beginning in 18871996 to take on that critical role. Being a member of the Small Business committee to serve as a chair of minority enterprise. I look f
Present. John baptiste is not here but expected. Director lipkin. Why present. Why director syed. Here. Director tumlin. Here. Vice chair mandelman is not here but expected and chair gee. Present. We have quorum. Next item. Communication. We would like to note the process for members of the public to make comment members may comment during Public Comment in person or remote. Call in line is a courtesy and availability may be disrupted due to technical difficulties and in person will be taken first and remote taken after. The call in line is on the agenda and dialing instructions should be scrolling on the screen on sfgovtv. There are other communications . I want to say thank you to director shaw. Come on up. Thank you for your service on tjpa and all you criminalitied to the board and to Sales Force Transit Center and positioning the portal project for success. And wish you well on your next assignment the mtc committee. And we know where to find you. Questions and comments and though
Present. John baptiste is not here but expected. Director lipkin. Why present. Why director syed. Here. Director tumlin. Here. Vice chair mandelman is not here but expected and chair gee. Present. We have quorum. Next item. Communication. We would like to note the process for members of the public to make comment members may comment during Public Comment in person or remote. Call in line is a courtesy and availability may be disrupted due to technical difficulties and in person will be taken first and remote taken after. The call in line is on the agenda and dialing instructions should be scrolling on the screen on sfgovtv. There are other communications . I want to say thank you to director shaw. Come on up. Thank you for your service on tjpa and all you criminalitied to the board and to Sales Force Transit Center and positioning the portal project for success. And wish you well on your next assignment the mtc committee. And we know where to find you. Questions and comments and though