Fed eases terms on emergency facility as uncertainty rises

US Federal Reserve
Photo: US Federal Reserve

The Federal Reserve has eased the terms on its flagship “Main Street” lending programme, as signs emerge that the economic recovery in the US is beginning to falter.

The Fed cut the minimum loan size from $250,000 to $100,000, hoping to offer funding to smaller organisations. It has also adjusted the fees on the programme “to encourage the provision of these smaller loans”.

The central bank clarified that it was willing to offset the amount firms had borrowed under the “paycheck protection”

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