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Financial Services Law Insights and Observations

Fed extends several Covid-19 lending facilities through December 31

Federal Issues Covid-19 Federal Reserve

Federal Issues

On July 28, the Federal Reserve Board announced the extension of several lending facilities designed to help the economy recover from the Covid-19 pandemic. The following facilities were previously set to expire on or around September 30 and are now extended through December 31: (i) the Primary Dealer Credit Facility; (ii) the Money Market Mutual Fund Liquidity Facility; (iii) the Primary Market Corporate Credit Facility; (iv) the Secondary Market Corporate Credit Facility; (v) the Term Asset-Backed Securities Loan Facility; (vi) the Paycheck Protection Program Liquidity Facility; and (vii) the Main Street Lending Program. 

The Municipal Liquidity Facility was already set to expire on December 31 and the Commercial Paper Funding Facility is set to expire on March 17, 2021.

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