ICYMI in BPInsights —
▶️ BPI, Covington & Burling LLP Identify Opportunities to Expand Access to Credit through Responsible AI Implementation
▶️ Federal Reserve Releases Two Hypothetical Scenarios for Second Round of Bank Stress Tests
BPI hosted a virtual symposium today on the current status of efforts to create a credit-sensitive benchmark as a replacement for #Libor for bank loan pricing.
@NewYorkFed's Nathaniel Wuerffel participated in the symposium. His remarks can be found here: https://www.newyorkfed.org/newsevents/speeches/2020/wue200918
The Fed could create a permanent discount window credit program — modeled on the seasonal credit program and leveraging the help of #CDFIs — that is narrowly designed to fund and subsidize lending to LMI areas and households.