Fed expands local government liquidity facility
Programme faced criticism for leaving out regions with heavy minority populations
The Federal Reserve has expanded its local government liquidity programme to include a broader set of cities and counties, it announced on April 27.
The Municipal Liquidity Facility (MLF) was recently criticised by a senior member of Congress for leaving out some metropolitan areas with large Native American and African-American populations.
The facility – launched on in mid-April – is designed to lend to a special purpose vehicle that directly purchases up to $500 billion of short-term
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