JEDE COVID-19 Update for May 4, 2020



  • Executive Order on National Electrical Grid:  President Trump issued an executive order prohibiting U.S. electric utilities from installing grid devices from foreign manufacturers that could threaten national security. The order requires the Department of Energy (DOE) to establish a "pre-qualified" vendor program that will allow utilities to identify friendly device makers from around the globe. The agency will also develop a program to identify any prohibited power devices already in use and work with utilities to "identify, isolate, monitor, and replace this equipment as appropriate." The DOE will also create a task force to develop new infrastructure procurement policies for utilities that are "fully integrated" with federal cybersecurity policies.

  • Export Guarantees:  The US Department of Agriculture announced increased availability of credit guarantees for sales of US agricultural commodities under the Commodity Credit Corporation’s Export Credit Guarantee Program for fiscal year 2020.  The total amount announced was $4.9 billion with $3.7 billion still available on May 4, 2020.

  • Advisory to Municipal Bond Issuers:  The US Securities and Exchange Commission has issued a Corporate Issuer Statement with economic observations about the impact of COVID-19 and requesting that appropriate financial and other disclosures be made by municipal bond issuers. The Corporate Issuer Statement noted “the presence of significant investor uncertainty—for both equity and fixed income investors—regarding the financial and operating status of many companies, as well as their future prospects, and the resulting thirst for information from investors and the marketplace more generally.”



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