This week, we recap happenings in Washington, in trading and in LIBOR. First, we review the LSTA letters on the Main Street Lending Programs and the TALF. We move to the markets, discussing the astonishing levels of loan trading in March, as captured by the LSTA Trade Data Study. Even through this tumultuous time, we cannot forget that LIBOR likely will end in roughly 20 months. And so, we recap the ARRC’s 2020 to-do list.