(Bloomberg) -- The Federal Reserve took another step toward launching an emergency lending program for state and local governments, publishing documents on Friday for would-be borrowers online.
The so-called notice-of-interest documents are for eligible issuers in the municipal debt market “to express interest in selling notes to the special purpose vehicle” set up as part of the program, the New York Fed said on its website. “Filling out the notice of interest is the initial step for an Eligible Issuer to provide eligibility information to the SPV for review.”
The New York Fed also said it has retained BLX Group to help administer the program, which was first announced on April 9.
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