With the adverse effects of COVID-19 being felt in the U. S. for five months now and with oil prices below $50 for most of that time, it should be no surprise that U. S. oil and gas companies’ default rate has been rising rapidly.
Making it easier for firms to go through bankruptcy can help protect businesses and their employees. Congress should use this opportunity to give the Fed the flexibility it needs to address the problem at hand.
Banking in the cloud consists of the largest, and most significantly regulated industry in the world, running on an entirely unregulated infrastructure, according to the CTO at one of London’s largest banks.
Leveraged corporate borrowers are worried about their liquidity given that there seems to be no end in sight to the COVID-19 public and economic crisis. They are requesting covenant relief at an unprecedented pace. This relief could haunt lenders if the COVID-19 crisis extends into 2021.