Federal Reserve Board expands its program of support for flow of credit to the economy by taking steps to enhance liquidity and functioning of crucial state and municipal money markets
UPDATE: FAQs and other documents available at www.federalreserve.gov.
The Federal Reserve Bank of Boston is sharing the following announcement from the Board of Governors of the Federal Reserve System, which includes an update to the term sheet for the Money Market Liquidity Facility.
The Federal Reserve Board on Friday expanded its program of support for the flow of credit to the economy by taking steps to enhance the liquidity and functioning of crucial state and municipal money markets. Through the Money Market Mutual Fund Liquidity Facility, or MMLF, the Federal Reserve Bank of Boston will now be able to make loans available to eligible financial institutions secured by certain high-quality assets purchased from single state and other tax-exempt municipal money market mutual funds.
The attached term sheet details the assets that are eligible under the MMLF program, as well as additional information.
More detailed program terms and conditions and an operational calendar will be published soon.
For media inquiries, call 202-452-2955.