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FRB Extends Paycheck Protection Program Liquidity Facility

The Federal Reserve Board ("FRB") extended the termination date of its Paycheck Protection Program ("PPP") Liquidity Facility from June 30, 2021 to July 31, 2021. The FRB stated that this final extension provides financial institutions with the additional processing time necessary to pledge to the facility any PPP loans approved by the Small Business Administration through the June 30, 2021 expiration date.

Primary Sources

  1. FRB Press Release: Federal Reserve Board announces it will extend for a final time its Paycheck Protection Program Liquidity Facility, or PPPLF, by an additional month to July 30, 2021
  2. FRB Term Sheet: Paycheck Protection Program Liquidity Facility

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Tags

Regulated Activities
Business Continuity Lending
Sub-Activity
Coronavirus, Paycheck Protection Program
Body of Law
Banking Law
Jurisdiction
US - Federal
Organization
US Banking Regulators
Sub-Author
Federal Reserve Board