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ARTICLE · 29 MAY 2020

Federal Reserve Expands Main Street Lending Program

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The Federal Reserve Board (the Board) announced on April 30 that it is expanding the scope and eligibility for the Main Street Lending Program adopted pursuant to Section 13(3)...

United StatesFinance and Banking
Henry G. Morriello
Henry G. Morriello
Karsten Giesecke
Karsten Giesecke
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Introduction

The Federal Reserve Board (the Board) announced on April 30 that it is expanding the scope and eligibility for the Main Street Lending Program adopted pursuant to Section 13(3) of the Federal Reserve Act. The Board developed the Main Street Lending Program to help credit flow to small and medium-sized businesses that were in sound financial condition before the pandemic. After receiving public comment on its initial proposal, it made a number of changes, including:

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