LIBOR, the reference rate for determining interest on over $200 trillion of financings worldwide, terminates on December 31, 2021. How will interest be determined after that?
On July 12, 2019, the SEC Staff published a major and unusual joint statement on “LIBOR Transition.” The Divisions of Corporation Finance, Investment Management, and Trading and Markets, together with the Office of the Chief Accountant, issued a seven-page, single-spaced statement.» Read More
This morning at its Jackson Hole, Wyoming, annual symposium, Fed Boss Jerome H. Powell said that while the Fed is prepared to add more stimulus if the economy slides, the central bank is not prepared to take any monetary easing action or significant reduction in its interest rate.» Read More
Our friends at WilkinGuttenplan recently published an article on the expansion of New Jersey’s Angel Investor Tax Credit Program, administered by the New Jersey Economic Development Authority (NJEDA). Effective January 1, 2020, the expansion will increase the available tax credit from 10 percent to 20 percent of a qualified investment, with an additional 5 percent available for investments in businesses located in qualified opportunity zones, low-income communities, and State-certified minority- and women-owned startups.» Read More