FRB Extends Expiration Date for COVID-19 Related Lending Facilities
The Federal Reserve Board, with the approval of Treasury, extended the expiration date, from December 31, 2020 to March 31, 2021, for its Commercial Paper Funding Facility, Money Market Mutual Fund Liquidity Facility, Primary Dealer Credit Facility, and Paycheck Protection Program Liquidity Facility.
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The Federal Reserve Board provided a three-month extension for its COVID-19 related lending facilities scheduled to "expire on or around" September 30, 2020.
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The Federal Reserve Bank of New York expanded eligibility for firms to act as agents for the Term Asset-Backed Securities Loan Facility.
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The Federal Reserve Board expanded the Paycheck Protection Program Liquidity Facility to program lenders approved by the Small Business Administration.
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The Federal Reserve Board established a Commercial Paper Funding Facility "to support the flow of credit to households and businesses due to the coronavirus outbreak."
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The Federal Reserve Board established a Money Market Mutual Fund Liquidity Facility to address instability within the financial system as a result of COVID-19.
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The Federal Reserve Board established an overnight offering and term funding following an announcement that it will establish a Primary Dealer Credit Facility designed to smooth market functioning.
