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Fed Expands Paycheck Protection Facility to Include More Lenders

Published 04/30/2020, 05:15 PM
Updated 04/30/2020, 05:45 PM
© Bloomberg. The Marriner S. Eccles Federal Reserve building stands in Washington, D.C., U.S., on Wednesday, July 31, 2019. The Federal Reserve is widely expected to lower interest rates by a quarter-point at its meeting that concludes Wednesday and leave the option open for additional moves despite demands by President Donald Trump for a

(Bloomberg) -- The Federal Reserve on Thursday said it’s expanding a program that helps the government provide stimulus loans to small businesses and is designed to keep workers on payrolls during the coronavirus pandemic.

The Fed said in a statement that it broadened access to its Paycheck Protection Program Liquidity Facility to additional lenders such as non-depository institutions. The central bank also widened the collateral that can be pledged.

©2020 Bloomberg L.P.

© Bloomberg. The Marriner S. Eccles Federal Reserve building stands in Washington, D.C., U.S., on Wednesday, July 31, 2019. The Federal Reserve is widely expected to lower interest rates by a quarter-point at its meeting that concludes Wednesday and leave the option open for additional moves despite demands by President Donald Trump for a

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