No one outside the Fed (and there have to be only like two or three within the Fed) have thought more about the Fed's emergency lending authorities than Steven Kelly. Today he's on the show for the ins and outs of these three angles:

- The DW & 13(3) covid-era data disclosures

- Does the Fed *have* to use SPVs? (thread)

- The case for prepping for an emergency commodities facility

Bloomberg oped

Original notes on the commodities facility

2008 legal memo

AIG warrants draft memo

Dallas Fed commodities markets article