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Financial Services Law Insights and Observations

Fed extends PPP Liquidity Facility through June 30

Federal Issues Federal Reserve SBA Covid-19 Bank Regulatory

Federal Issues

On March 8, the Federal Reserve Board announced the extension of the Paycheck Protection Program Liquidity Facility (PPPLF) through June 30. The PPPLF was rolled out last year to provide liquidity to banks making loans to small businesses pursuant to the Small Business Administration’s Paycheck Protection Program at the start of the Covid-19 pandemic (covered by InfoBytes here). The Board noted, however, that the remaining Covid-19 lending facilities—the Commercial Paper Funding Facility, the Money Market Mutual Fund Liquidity Facility, and the Primary Dealer Credit Facility—will terminate March 31 as planned.

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