Salem Radio Network News Friday, July 30, 2021


NY Fed terminates commercial paper funding facility

NEW YORK (Reuters) – The Federal Reserve Bank of New York announced on Thursday that it terminated the commercial paper funding facility, an emergency lending program launched during the pandemic to help get credit directly to businesses and households.

The dedicated funding vehicle established to purchase commercial paper made its final distributions of assets on June 29 and July 7 to the Treasury Department and the New York Fed. The full equity investment of $10 billion was returned to the Treasury Department, along with investment earnings.

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(Reporting by Jonnelle Marte; Editing by Leslie Adler)


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Bob Gorrell
Mon, Jul 19, 2021