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Federal Reserve Extends Liquidity Facility for Small Businesses Until June 30

The emergency liquidity facility is meant to help lenders extend relief to small businesses under the Paycheck Protection Program.

Image: Marriner S. Eccles Federal Reserve Board Building. Source: Traveler1116 / iStockphoto.

WASHINGTON (Reuters) – The Federal Reserve announced Monday it was extending by three months to June 30 an emergency liquidity facility meant to help lenders extend relief to small businesses under the Paycheck Protection Program.

In a statement, the Fed said three other emergency facilities — the Commercial Paper Funding Facility, the Money Market Mutual Fund Liquidity Facility, and the Primary Dealer Credit Facility — would expire as scheduled on March 31, saying they had not seen “significant usage” in months.

Reporting by Pete Schroeder; Editing by Chizu Nomiyama.

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Source: Reuters