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Financial Services Law Insights and Observations

Federal Reserve Board expands counterparties eligible to transact in facilities

Federal Issues Covid-19 Federal Reserve Securities Consumer Credit

Federal Issues

On July 23, the Federal Reserve Board announced the expansion of counterparties eligible to transact with and provide services in the Term Asset-Backed Securities Loan Facility, Secondary Market Corporate Credit Facility, and Commercial Paper Funding Facility (previously discussed here, here, here, here). These facilities were created pursuant to section 13(3) of the Federal Reserve Act with the objective of increasing the movement of credit to households, businesses, and the economy.

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