Federal Reserve: Emergency Lending (Updated March 27, 2020)

By:

Congressional Research Service

Format:

Paperback / softback

Show Hide Adult Content

$45.00

Available from supplier

Usually ships in 3-4 weeks

0 in Trolley

Price Match

Free Delivery with Primate

Join Now

Free 14 day free trial, cancel anytime.

Buy Now, Pay Later with:

Afterpay is available on orders $100 to $2000 Learn more

6 weekly interest-free payments of $7.50 with Laybuy Learn more

Availability

Delivering to:

Estimated arrival:

Around 11-21 June using International Courier

Description

In response to the financial turmoil caused by the coronavirus disease 2019 (COVID-19), the Fed reopened four of these broadly-based programs and created two new ones in 2020. Treasury pledged $50 billion of assets from the Exchange Stabilization Fund (ESF) to protect the Fed against losses in most of these programs. H.R. 748, referred to by some as the “third coronavirus stimulus” bill, was passed by the Senate on March 25, 2020. The bill would provide between $454 billion and $500 billion to support Fed liquidity facilities. The bill states that applicable requirements of Section 13(3) shall apply to these facilities. Credit outstanding (extended in the form of cash or securities) authorized by Section 13(3) peaked at $710 billion in November 2008. All credit extended under Section 13(3) during the financial crisis was repaid with interest. Contrary to popular belief, the Fed earned profits of more than $30 billion and did not suffer any losses on transactions authorized by Section 13(3).

Release date NZ

April 5th, 2020

Author

Congressional Research Service

Audience

General (US: Trade)

Pages

ISBN-13

9781716000539

Product ID

33426483

Customer reviews

Nobody has reviewed this product yet. You could be the first!

Write a Review

Marketplace listings

There are no Marketplace listings available for this product currently.
Already own it? Create a free listing and pay just 9% commission when it sells!

Sell Yours Here