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
Life for on demand on your time. This is csi of online. Were going to go ahead and get started now. Folks are still running. That is fine. We want to get started because we have a fantastic program for you and not a lot of time. This hour is going to fly by read, who, is really a fantastic read. This is a Glass Half Full story of chinas economy and management of the Financial System and its offered at a time when u. S. China relations are declining and attacks from all different corners in the United States of chinas system are growing. And theres this argument that chinas economy, how it manage that economy is incompatable with the International System and as a result the u. S. And others need to reduce their exposure to chinas unique risks. The book tries to answer the question, how did china manage to do it . How did they manage to continue to grow without a major financial crisis . And can they keep it up . Im going to turn the floor over to tom in just a minute. So introduce his b
Theres a little breeze at least at my place. Noticeably clear. Temperatures will be on the cooler side. This might be the last cool day here for a little bit. 50s to 54. The up and rocking rolling. Northwest 33 and 37. A gust of 40 and Half Moon Bay is out in front there. Gusting at 30 Miles Per Hour. They are going to get the brunt of this. Temperatures are running cooler. Concord is off six. Compared to 24 hours ago. Nevada 5. That low responsible for is on the way to seattle important but the highs raring to go for tomorrow giving us a pretty significant warmup. A blow for inland areas. Over to sal, 7 01, one of the bridges you want to start with . Or what . Lets talked with the bay bridge. You can see that there is so traffic there for you if youre going to be driving there and anytime soon. Coming into the toll plaza that is usually the slowest commute. This wine is the slowest. Really, for the rest of the bay area, theres okay traffic. Northbound 101 near mckee, they are caring a