The Main Street Lending Program has ceased purchasing participations in eligible loans.
- The Main Street Lending Program and the United States Department of the Treasury have agreed that each year in November and May, MS Facilities LLC (SPV) will return to the Treasury any preferred equity funds previously invested by Treasury that are in excess of the SPV’s outstanding loans from Federal Reserve Bank of Boston until the preferred equity investments fall to $1 billion or less. On November 19, 2021, the first such regularly scheduled return of equity, the MSLP returned $897.6 million to Treasury, reducing Treasury’s remaining cash invested in the facility to $15.674 billion.
- On July 29, 2021, FAQ H.18 of the Main Street Post-Termination FAQs was updated to provide clarifications regarding the applicability of the Borrower Certifications and Covenants, including the restrictions that apply to direct loan programs under the CARES Act, if an eligible borrower or its assets are sold. See a comparison to the previous Main Street FAQs.
- The Federal Reserve Bank of Boston has posted additional information regarding vendors for the Main Street Lending Program on the vendor page; specifically, a quarterly report reflecting fees approved for payment to the vendors supporting the program.
- On Monday, March 22, the Federal Reserve’s Board of Governors posted audited financial statements for MS Facilities LLC, formed in connection with the implementation of the Main Street Lending Program. The financial statements cover the period from May 18, 2020 to December 31, 2020.
- An integrity hotline has been established for reports of fraud, waste, abuse, misrepresentations, illegal activity or unethical behavior associated with the facilities established by the Federal Reserve and administered by the Federal Reserve Bank of Boston to support the economy and promote the stability of the financial system in response to the COVID-19 pandemic. To make a report, please call 844-978-1252.