While testifying testimony before the House Financial Services Committee on Tuesday, Jerome Powell, Chairman of the Federal Reserve System, said there was very little demand for loans below $1 million in the Main Street Lending Program. Additional takeaways “Proceeding with a lower loan amount might require a different program from Main Street.” “Smaller loans would be more in line with the Paycheck Protection Program (PPP) loans that can be forgiven.” “Question for how to reopen are for state and local elected officials.” “Have relaxed a number of banking regulations temporarily and are open to do more of that.” “Stress tests themselves always err on the side of safety.” “No plans to change banks living will review schedule.” “So far, banking system has held up well.” “Smaller banks may bear a larger burden here, greater exposure to things like real estate.” “Not seeing demand for very, very small loans.” “Lending at the small end involves a lot of personal guarantees, would have to start from scratch to build that capability.” Market reaction The greenback preserves its strength against its rivals in the American trading hours. As of writing, the US Dollar Index was up 0.52% on a daily basis at 94.03. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Dash Price Prediction: DASH defends crucial support level and shows buy signals FX Street 1 year While testifying testimony before the House Financial Services Committee on Tuesday, Jerome Powell, Chairman of the Federal Reserve System, said there was very little demand for loans below $1 million in the Main Street Lending Program. Additional takeaways "Proceeding with a lower loan amount might require a different program from Main Street." "Smaller loans would be more in line with the Paycheck Protection Program (PPP) loans that can be forgiven." "Question for how to reopen are for state and local elected officials." "Have relaxed a number of banking regulations temporarily and are open to do more of that." "Stress tests themselves… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
