Federal Reserve Board announces extension for several of its lending facilities

Federal Reserve Board announces extension for several of its lending facilities

Washington, DC (STL.News) The Federal Reserve Board on Monday announced an extension through March 31, 2021, for several of its lending facilities that were generally scheduled to expire on or around December 31.

By backstopping critical short-term funding markets, these facilities are supporting market functioning and enhancing the flow of credit to the economy.  The extension, which has also been approved by the Treasury Department, will facilitate planning by potential facility participants and provide certainty that the facilities will continue to be available through the first quarter of 2021 to help the economy recover from the COVID-19 pandemic.

The extensions apply to the Commercial Paper Funding Facility, the Money Market Mutual Fund Liquidity Facility, the Primary Dealer Credit Facility, and the Paycheck Protection Program Liquidity Facility.

About Marty Smith 10908 Articles
Marty Smith is the Editor in Chief and a founder of STL.News, DirectSourceNews.org, and St. Louis Restaurant Review. As Editor in Chief, Smith is responsible for the content posted on the network with the help of the publishing team, which is located around the globe. Additionally, Smith is responsible for building a network of aggregator sites to manage the content involving thousands of sources.