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    FORN   CH0003541510

FORBO HOLDING AG

(FORN)
  Report
Delayed Quote. Delayed Swiss Exchange - 06/18 11:31:43 am
1708 CHF   -1.61%
06/11KRONES AG  : Metzler gives a Neutral rating
MD
04/08FORBO HOLDING AG : Ex-dividend day for final dividend
FA
04/01FORBO  : Media release
PU
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Fed says it will provide financing against new U.S. 'payroll protection' loans

04/06/2020 | 08:45pm EDT
Federal Reserve Board building on Constitution Avenue is pictured in Washington

The Federal Reserve on Monday moved to bolster a new small-business lending program by allowing banks to turn those loans over to the U.S. central bank for cash, easing concerns among banks about getting stuck holding the low interest loans.

The Fed said it would announce details later this week of a new term financing arrangement for loans made under what is known as the Payroll Protection Program, part of the federal response to the economic effects of the coronavirus pandemic.

Term financing facilities have been a staple of the Fed's crisis response, encouraging banks to make loans for a variety of purposes with the understanding that they could turn them over to the central bank, get cash and continue lending.

The program is similar to the arrangement the U.S. government has with mortgage agencies like Fannie Mae and Freddie Mac, whose stamp of approval on a loan makes banks more willing to lend.

In this case the very existence of the Fed program - assuring banks they could unload the Small Business Administration loans when they want - could make the program more attractive to lenders, given the fees of up to 5% banks can earn for what now amounts to processing the paperwork.

The Payroll Protection Program is one of the key measures adopted as part of a more than $2 trillion effort to offset the economic impact of the coronavirus crisis, which has forced large portions of the U.S. economy to shutter. It dedicates $350 billion for loans so small businesses can keep paying workers and meet basic expenses like rent.

The rollout of the program has been fitful, however. Some bankers have said they remain unclear about their potential risks if the loans go bad - even though the Treasury Department has said it would guarantee them in most instances. Bankers also have been concerned about holding onto the 1% interest loans even though the Treasury last week said they could be sold back to the SBA after seven weeks.

The Fed is working on a separate Main Street Lending Facility expected to focus on mid-sized employers with between 500 and 10,000 workers.

Fed Chair Jerome Powell is to provide an update on the economy on Thursday in a webcast speech hosted by the Brookings Institution, a Washington-based think tank.

By Howard Schneider and Lindsay Dunsmuir


© Reuters 2020
All news about FORBO HOLDING AG
06/11KRONES AG  : Metzler gives a Neutral rating
MD
04/08FORBO HOLDING AG : Ex-dividend day for final dividend
FA
04/01FORBO  : Media release
PU
04/01FORBO  : shareholders approve all proposals of the Board of Directors
PU
04/01Media release Forbo Group
TE
03/31FORBO  : Stifel Lifts Price Target on Forbo, Maintains Buy Recommendation
MT
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03/23FORBO  : to Repurchase 10% Share Capital on Swiss Bourse
MT
03/22FORBO  : Media release
PU
03/22FORBO  : launches share buyback program 2019–2022 via second trading line
PU
More news
Financials
Sales 2021 1 198 M 1 297 M 1 297 M
Net income 2021 121 M 131 M 131 M
Net cash 2021 247 M 267 M 267 M
P/E ratio 2021 22,0x
Yield 2021 1,36%
Capitalization 2 697 M 2 924 M 2 921 M
EV / Sales 2021 2,05x
EV / Sales 2022 1,93x
Nbr of Employees 5 317
Free-Float 63,5%
Chart FORBO HOLDING AG
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Technical analysis trends FORBO HOLDING AG
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 1 710,00 CHF
Last Close Price 1 708,00 CHF
Spread / Highest target 14,2%
Spread / Average Target 0,12%
Spread / Lowest Target -3,98%
EPS Revisions
Managers and Directors
NameTitle
Stephan Bauer Chief Executive Officer
Andreas Jaeger Chief Financial Officer
Mathias Ernst Schneider Executive Chairman
Michael Pieper Vice Chairman
Vincent Studer Non-Executive Director
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