(Reuters) - The U.S. Securities and Exchange Commission (SEC) said on Monday it will allow temporary flexibility to borrow and enter into certain other lending arrangements for registered investment companies affected by the coronavirus pandemic.
The temporary relief is to provide registered funds with additional tools to manage their portfolios as investors may seek to rebalance their investments, the SEC said. (bit.ly/3adI6CJ)
The United States has been hit hard by the worldwide COVID-19 pandemic. There have been more than 40,000 coronavirus cases nationwide, with more than 500 deaths.
Reporting by Shubham Kalia in Bengaluru; Editing by Shounak Dasgupta