To the extent that macro-prudential oversight requires micro-prudential data, the latter should be available from supervisors, and full confidentiality will be ensured. Any additional reporting would be exceptional. Macro-prudential supervision should also avoid leading to an excessive burden of regulation. The legal principle non bis in idem applies to regulation: the financial sector cannot be regulated twice.
These facilities are supported with money invested by the Department of the Treasury, drawing on appropriations of more than $ billion authorized by the Congress in the Cares Act (Coronavirus Aid, Relief, and Economic Security Act) for the specific purpose of investing in Fed programs to sustain the flow of credit to households, firms, and communities during the coronavirus pandemic.