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Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

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Treasury and USPS agree on CARES Act loan terms

Treasury has reached an agreement with the United States Postal Service on the material terms and conditions of a loan of up to $10 billion to the USPS under Section 6001 of the CARES Act. The loan will be documented in an agreement to be developed and executed by Treasury and the USPS. The CARES Act authorizes the USPS to borrow up to $10 billion from Treasury for operating expenses if the USPS determines that, due to the COVID-19 emergency, it will not be able to fund operating expenses without borrowing money.

Treasury Secretary Mnuchin noted that the USPS does not need the funding now, but the material terms and conditions of a loan have been agreed upon should the need arise.

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