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Fed Expands Paycheck Protection Facility to Include More Lenders

imageStock Markets16 hours ago (Apr 30, 2020 05:45PM ET)

(C) Bloomberg. The Marriner S. Eccles Federal Reserve building stands in Washington, D.C., U.S., on Wednesday, July 31, 2019. The Federal Reserve is widely expected to lower interest rates by a quarter-point at its meeting that concludes Wednesday and leave the option open for additional moves despite demands by President Donald Trump for a

(Bloomberg) — The Federal Reserve on Thursday said it’s expanding a program that helps the government provide stimulus loans to small businesses and is designed to keep workers on payrolls during the coronavirus pandemic.

The Fed said in a statement that it broadened access to its Paycheck Protection Program Liquidity Facility to additional lenders such as non-depository institutions. The central bank also widened the collateral that can be pledged.

(C)2020 Bloomberg L.P.

Fed Expands Paycheck Protection Facility to Include More Lenders

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