Advertisement

Federal Reserve to lend up to $300 billion to businesses and cities

The Rock Island Soil and Water Conservation District has been awarded $180,000 for the implementation of the Copperas Creek watershed-based plan. (MGN Image)
The Rock Island Soil and Water Conservation District has been awarded $180,000 for the implementation of the Copperas Creek watershed-based plan. (MGN Image)(KWQC)
Published: Mar. 23, 2020 at 8:14 AM EDT
Email this link
Share on Pinterest
Share on LinkedIn

In a series of sweeping steps, the Fed will lend to small and large businesses and local governments as well as extend its bond buying programs. It's all part of the Fed's ongoing efforts to support the flow of credit through an economy ravaged by the viral outbreak.

The Fed said Monday that it will set up three new lending facilities that will provide up to $300 billion by purchasing corporate bonds, buying a wider range of municipal bonds, and purchasing asset-backed securities.

It also says it will buy an unlimited amount of Treasury bonds and mortgage-backed securities in an effort hold down interest rates and ensure those markets function smoothly.

(Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.)

3/23/2020 8:10:29 AM (GMT -4:00)

Latest News

Latest News