Fed extends PPP Liquidity Facility for a final time
On June 25, the Federal Reserve Board announced the extension of the Paycheck Protection Program Liquidity Facility (PPPLF) for a final time to July 30. As previously covered by InfoBytes, the PPPLF was rolled out last year to provide liquidity to banks making loans to small businesses pursuant to the SBA’s Paycheck Protection Program at the start of the Covid-19 pandemic. In March, the Fed extended the PPPLF to June 30 (covered by InfoBytes here). The Fed noted that the most recent extension is being made as an “operational accommodation” for banks, community development financial institutions, and other financial institutions.