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Fed Extends PPP Liquidity Facility to July 30

  • Fed extends its Paycheck Protection Program Liquidity Facility to July 30
  • Facility assists financial institutions in processing PPP loans
  • Deadline for new PPP loans was May 31, but the program’s official expiration is June 30

Summary by Dirk Langeveld

As the Paycheck Protection Program moves from accepting new applications to processing forgiveness requests on existing loans, the  Federal Reserve has extended a facility designed to assist lenders with this task.

The Paycheck Protection Program Liquidity Facility has been extended from June 30 to July 30. The facility assists financial institutions in making PPP loans by extending term credits to the lenders and accepting the loans as collateral. The Fed says the extension gives financial institutions additional processing time to pledge any PPP loans to the facility through the June 30 expiration of the program.

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