The Federal Reserve Will Extend Its Lending Programs Through December 31, 2020
The Federal Reserve has announced an extension through December 31 of its lending facilities that were initially scheduled to expire on or around September 30. The lending facilities are geared towards countering the economic downturn and aimed at credit markets, small and large businesses and corporate bonds.
The extension will apply to the Primary Dealer Credit Facility, the Money Market Mutual Fund Liquidity Facility, the Primary Market Corporate Credit Facility, the Secondary Market Corporate Credit Facility, the Term Asset-Backed Securities Loan Facility, the Paycheck Protection Program Liquidity Facility, and the recently launched Main Street Lending Program.
The programs are set to provide approximately $2.3 trillion worth of funding, and so far about $110 billion has been utilized.
Sax will continue to update you as further details are made available. Reach out to your Sax advisor or email [email protected] with questions. For more and on-going information relative to your state and business, visit Sax’s COVID-19 Resource Center.