More free money confirmed - ఇక markets ఎవరూ ఆపలేరు - 45K by november

[Hitman]

https://finance.yahoo.com/news/fed-expands-main-street-lending-facility-with-lower-minimums-higher-risk-retention-194347770.html?.tsrc=fin-notif 

The Federal Reserve moved on Monday to expand the scope of its Main Street Lending Program by lowering the minimum loan size to $250,000 and extending the loan terms to five years.

The Fed says it will also take on 95% of all the Main Street loan risk, to incentivize lenders to offer credit.

The Fed says the program will allow the central bank to offer credit to more small and mid-sized businesses as they continue to work through the COVID-19 crisis. Originally, the minimum loan size was $500,000 and the loan terms were four years.

“I am confident the changes we are making will improve the ability of the Main Street Lending Program to support employment during this difficult period,” Fed Chairman Jerome Powell said in a statement.

The Main Street Lending Program was originally announced on March 23 but the Fed has spent over two months working on the design of the program, which Powell has described as a “complex undertaking.” The Fed’s institutional knowledge is in financial markets, not loan underwriting, and Fed officials have therefore sought public comment as it tweaked the terms of the facility.

 

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