The U.S. Treasury, the Federal Reserve, and the U.S. banking agencies have taken an array of steps to help stem the market fallout from the COVID-19 crisis.  Some of these steps are modeled on the playbook deployed in the last financial crisis; many of these steps go beyond those taken in the last financial crisis as the issues permeate the real economy.  This presentation was done on Wednesday, March 26, 2020 by Timothy J. Byrne, Counsel, Shearman & Sterling, Jason Kyrwood, Partner, Davis Polk & Wardwell LLP, Bridget Marsh, EVP, Deputy Counsel, LSTA, Reena Sahni, Partner, Shearman & Sterling and Margaret Tahyar, Partner, Davis Polk & Wardwell LLP