Yale School of Management

Posts by Author

Jack Rong ’20 Launches Canada-Based Search Fund Suncordy Pacific

By: A. J. Wasserstein July 20, 2020
Jack Rong

Growing up in an entrepreneurial family, Rong has always been interested in entrepreneurship. He discovered the search fund concept during his time at Yale and immediately took to its approach to entrepreneurship. After taking Entrepreneurship through Acquisition, a course that focuses on the...

Continue reading “Jack Rong ’20 Launches Canada-Based Search Fund Suncordy Pacific”

Utilization of Credit Support Programs for SMEs

July 20, 2020
In response to the COVID-19 pandemic, governments have implemented a variety of programs to support small- and medium-sized enterprises (SMEs). A large portion of these programs are designed to facilitate credit access. These programs range in size, eligibility, and terms. YPFS has begun to compile usage information on 26 major programs across 16 countries. The information can be found in this spreadsheet.   Continue reading “Utilization of Credit Support Programs for SMEs”

Fed Expands Main Street Lending Program to Include Nonprofits

July 20, 2020
On July 17, the Federal Reserve expanded eligibility for the Main Street Lending Program (MSLP) to include nonprofit organizations such as educational institutions, hospitals, and social service organizations. The Fed will purchase 95% participations in loans to nonprofits under terms that are similar to terms it previously announced for for-profit companies, with additional criteria tailored to non-profit organizations. Continue reading “Fed Expands Main Street Lending Program to Include Nonprofits”

News in Systemic Risk: Monday, July 20, 2020 (10 a.m. ET)

July 20, 2020
Former Fed Chairs Bernanke and Yellen testified on COVID-19 and response to economic crisis (Ben Bernanke, Janet Yellen; Brookings Institution) Confusion over Nigerian central bank’s exchange rate policy (Central Banking) Bank of Greece proposes ‘bad bank’ for NPLs (Central Banking) Bank Complexity, Governance, and Risk (Ricardo Correa, Linda S. Goldberg; National Bureau of Economic Research) Federal Reserve Board modifies Main Street Lending Program to provide greater access to credit for nonprofit organizations such as educational institutions, hospitals, and social service organizations (Federal Reserve) Russia seen cutting rates by at least 25 basis points on Friday: Reuters poll (Elena Fabrichnaya, Andrey Ostroukh; Reuters) EU Closes In on Stimulus Deal With Major Obstacle Overcome (Boris Groendahl, Jonathan Stearns; Bloomberg) Fed’s Kaplan Open to Overshooting Inflation Target to Provide More Support (Nick Timiraos; Wall Street Journal) Continue reading “News in Systemic Risk: Monday, July 20, 2020 (10 a.m. ET)”

Implications of the German Constitutional Court’s Objection to the ECB’s Public Sector Purchase Program

July 17, 2020
The Bundesbank, the German central bank, will continue to participate in the European Central Bank’s Public Sector Purchase Program (PSPP) after the German finance minister and parliament declared that the Bundesbank’s participation was allowable under EU guidelines.  Continue reading “Implications of the German Constitutional Court’s Objection to the ECB’s Public Sector Purchase Program”

News in Systemic Risk: Friday, July 17, 2020 (10 a.m. ET)

July 17, 2020
Never waste a crisis: COVID-19, climate change and monetary policy (Isabel Schnabel; European Central Bank) Pablo Hernández de Cos: The main post-pandemic challenges for the Spanish economy (Pablo Hernández de Cos; Bank for International Settlements) Paul Krugman on Zombie ideas and Economic Recovery (Paul Krugman; International Monetary Fund) Basis Trades and Treasury Market Illiquidity (Daniel Barth, Jay Kahn; Office of Financial Research) Coronavirus panic fuels a surge in cash demand (Jonathan Ashworth, Charles Goodhart; VoxEu) The Fed has better tools than yield curve control (David Wilcox; Pierson Institute for International Economics) Beneath Bond Market’s Surface, Tumbling Real Yields Boost Other Assets (Sam Goldfarb; Wall Street Journal) FATF will set up global network of virtual asset supervisors (Rachael King; Central Banking) Continue reading “News in Systemic Risk: Friday, July 17, 2020 (10 a.m. ET)”

Jack Rong ’20 Launches Canada-Based Search Fund Suncordy Pacific

By: A. J. Wasserstein July 20, 2020
Jack Rong

Growing up in an entrepreneurial family, Rong has always been interested in entrepreneurship. He discovered the search fund concept during his time at Yale and immediately took to its approach to entrepreneurship. After taking Entrepreneurship through Acquisition, a course that focuses on the...

Continue reading “Jack Rong ’20 Launches Canada-Based Search Fund Suncordy Pacific”

Utilization of Credit Support Programs for SMEs

July 20, 2020
In response to the COVID-19 pandemic, governments have implemented a variety of programs to support small- and medium-sized enterprises (SMEs). A large portion of these programs are designed to facilitate credit access. These programs range in size, eligibility, and terms. YPFS has begun to compile usage information on 26 major programs across 16 countries. The information can be found in this spreadsheet.   Continue reading “Utilization of Credit Support Programs for SMEs”

Fed Expands Main Street Lending Program to Include Nonprofits

July 20, 2020
On July 17, the Federal Reserve expanded eligibility for the Main Street Lending Program (MSLP) to include nonprofit organizations such as educational institutions, hospitals, and social service organizations. The Fed will purchase 95% participations in loans to nonprofits under terms that are similar to terms it previously announced for for-profit companies, with additional criteria tailored to non-profit organizations. Continue reading “Fed Expands Main Street Lending Program to Include Nonprofits”

News in Systemic Risk: Monday, July 20, 2020 (10 a.m. ET)

July 20, 2020
Former Fed Chairs Bernanke and Yellen testified on COVID-19 and response to economic crisis (Ben Bernanke, Janet Yellen; Brookings Institution) Confusion over Nigerian central bank’s exchange rate policy (Central Banking) Bank of Greece proposes ‘bad bank’ for NPLs (Central Banking) Bank Complexity, Governance, and Risk (Ricardo Correa, Linda S. Goldberg; National Bureau of Economic Research) Federal Reserve Board modifies Main Street Lending Program to provide greater access to credit for nonprofit organizations such as educational institutions, hospitals, and social service organizations (Federal Reserve) Russia seen cutting rates by at least 25 basis points on Friday: Reuters poll (Elena Fabrichnaya, Andrey Ostroukh; Reuters) EU Closes In on Stimulus Deal With Major Obstacle Overcome (Boris Groendahl, Jonathan Stearns; Bloomberg) Fed’s Kaplan Open to Overshooting Inflation Target to Provide More Support (Nick Timiraos; Wall Street Journal) Continue reading “News in Systemic Risk: Monday, July 20, 2020 (10 a.m. ET)”

Implications of the German Constitutional Court’s Objection to the ECB’s Public Sector Purchase Program

July 17, 2020
The Bundesbank, the German central bank, will continue to participate in the European Central Bank’s Public Sector Purchase Program (PSPP) after the German finance minister and parliament declared that the Bundesbank’s participation was allowable under EU guidelines.  Continue reading “Implications of the German Constitutional Court’s Objection to the ECB’s Public Sector Purchase Program”

News in Systemic Risk: Friday, July 17, 2020 (10 a.m. ET)

July 17, 2020
Never waste a crisis: COVID-19, climate change and monetary policy (Isabel Schnabel; European Central Bank) Pablo Hernández de Cos: The main post-pandemic challenges for the Spanish economy (Pablo Hernández de Cos; Bank for International Settlements) Paul Krugman on Zombie ideas and Economic Recovery (Paul Krugman; International Monetary Fund) Basis Trades and Treasury Market Illiquidity (Daniel Barth, Jay Kahn; Office of Financial Research) Coronavirus panic fuels a surge in cash demand (Jonathan Ashworth, Charles Goodhart; VoxEu) The Fed has better tools than yield curve control (David Wilcox; Pierson Institute for International Economics) Beneath Bond Market’s Surface, Tumbling Real Yields Boost Other Assets (Sam Goldfarb; Wall Street Journal) FATF will set up global network of virtual asset supervisors (Rachael King; Central Banking) Continue reading “News in Systemic Risk: Friday, July 17, 2020 (10 a.m. ET)”