The Municipal Liquidity Facility – Lending Lifeline or Last Resort in the Age of COVID-19?
Tuesday, June 30, 2020
10:00AM – 11:00AM EDT
Neal R.Pandozzi, Senior Counsel, Adler Pollock & Sheehan P.C.
Jonathan L. Cabot, Associate, Adler Pollock & Sheehan P.C.
This webinar will discuss the Municipal Liquidity Facility (the “MLF”), the Federal Reserve’s emergency lending program for state and local governments experiencing cash-flow and other financial pressures due to the COVID-19 pandemic.
The MLF is not intended to function as a competitor to the normal municipal securities market. Rather, it is designed to operate as a liquidity backstop and lender of last resort for qualifying state and local governments that are unable to obtain adequate credit under current market conditions.
This webinar will highlight the requirements for:
- participation in the MLF;
- the terms of MLF loans;
- the uses of loan proceeds; and
- the form documents.
Our goal is to provide interested stakeholders with the tools necessary to evaluate whether or not the MLF is a suitable lending program for their particular needs.