Vorys (Ohio/Texas): Federal Reserve to the Rescue of Main Street

FIRST PUBLISHED ON 04.10.2020 – On April 9, 2020, the United States Federal Reserve issued guidance for the distribution of $2.3 trillion in loans to support the economy. The Federal Reserve has continually promised to use its full range of tools to support the flow of credit to households and businesses to counter the economic impact of COVID-19 and to promote a swift economic recovery. The programs unveiled by the Federal Reserve have been expected since the CARES Act was passed two weeks ago and this alert highlights the guidance for the Main Street Lending Program, funded with $600 billion in loans from the Federal Reserve, and also discusses the other programs discussed in the Federal Reserve’s guidance.  MORE.

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