FRB Extends Termination Date of Paycheck Protection Program Liquidity Facility

The Federal Reserve Board ("FRB") extended the termination date of its Paycheck Protection Program Liquidity Facility from March 31, 2021 to June 30, 2021. The FRB stated that the Commercial Paper Funding Facility, the Money Market Mutual Fund Liquidity Facility and the Primary Dealer Credit Facility will expire as scheduled on March 31, 2021 because they "have not had significant usage since last summer."