2020-04-09cnn.com

The Fed said Thursday that it is creating a Municipal Liquidity Facility with up to $500 billion in loans and $35 billion in credit protection in order to "help state and local governments manage cash flow stresses caused by the coronavirus pandemic."

...

The Fed also said Thursday that it will supply financing to banks taking part in the Small Business Administration's Paycheck Protection Program.

Additionally, the central bank said it was boosting its Main Street Lending Program for small businesses with an additional $600 billion in loans as well as $75 billion in funding from the Treasury Department via the Coronavirus Aid, Relief, and Economic Security Act (CARES) fiscal stimulus.

Here's the Fed's press release, which has more details. We'll see how many of these loans the banks actually give out to true small businesses who are starving for them...



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