Smith Anderson (North Carolina): Federal Reserve Announces New Lending Facilities and Other Actions to Support the U.S. Economy

On March 23, 2020, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) announced a series of actions intended to support the United States economy during the unprecedented financial crisis caused by the outbreak of the coronavirus (COVID-19) pandemic. The Federal Reserve’s announcement describes aggressive new measures by the central bank to address the economic slowdown caused by COVID-19 and the accompanying business closures and stay-at-home advisories, and to facilitate the flow of credit to employers, households, businesses, non-profits, municipalities and other U.S. institutions. Below are brief summaries of the measures announced by the Federal Reserve. MORE.

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