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Financial Services Law Insights and Observations

Federal Reserve Board’s Secondary Market Corporate Credit Facility to purchase corporate bonds

Federal Issues Covid-19 Federal Reserve Liquidity Bond

Federal Issues

On June 15, the Federal Reserve Board announced that the Secondary Market Corporate Credit Facility (SMCCF) (previously covered here) will begin buying a diversified portfolio of corporate bonds to support market liquidity and the availability of credit for large employers. The intent is to create a bond portfolio that tracks the composition of the broad, diverse universe of secondary market bonds that are eligible for the program. The announcement included a revised term sheet and updated FAQs for the SMCCF.   

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