繁体中文  
 
版主:黑木崖
 · 九阳全新免清洗型豆浆机 全美最低
 
US Fed Prints Even More Money Today!
送交者:  2020年04月09日17:44:24 于 [世界军事论坛] 发送悄悄话

Federal Reserve unveils details of $2.3 trillion in programs to help support the economy

VIDEO03:22
Fed announces $2.3 trillion in programs to support the economy

The Federal Reserve on Thursday announced a bevy of new moves aimed at getting another $2.3 billion of financing into businesses and revenue-pinched governments.

Among the measures were details regarding its Main Street business lending program and several other initiatives it is undertaking to backstop the reeling U.S. economy. The Fed also provided more detail on its market interventions, including plans to buy corporate bonds both at an investment-grade level as well as high-yield, or junk, bonds.

Under provisions outlined for the first time, the loans would be geared toward businesses with up to 10,000 employees and less than $2.5 billion in revenues for 2019. Principal and interest payments will be deferred for a year.

The Fed said the programs would total up to $2.3 trillion and include the Payroll Protection Program and other measures aimed at getting money to small businesses and bolstering municipal finances with a $500 billion lending program.

“Our country’s highest priority must be to address this public health crisis, providing care for the ill and limiting the further spread of the virus,” Fed Chair Jerome  Powell said in a statement. “The Fed’s role is to provide as much relief and stability as we can during this period of constrained economic activity, and our actions today will help ensure that the eventual recovery is as vigorous as possible.”

The measures enhance an already-aggressive move by the Fed to keep markets functioning and support the economy, which has been handcuffed due to public health measures aimed at halting the coronavirus spread.

Money for business and government

The Main Street loans would be a minimum of $1 million and a maximum of either $25 million or an amount that “when added to the Eligible Borrower’s existing outstanding and committed but undrawn debt, does not exceed four times the Eligible Borrower’s 2019 earnings before interest, taxes, depreciation, and amortization,” whatever is less, according to a Fed release.

The Fed will purchase up to $600 billion in loans.

Terms would see an interest rate equal to the Fed’s Secure Overnight Financing Rate, currently 0.01%, plus 250-400 basis points with a four-year maturity. 

A special-purpose vehicle that Fed created jointly with the Treasury Department will purchase 95% of the loan while the financing institution would hold the other 5%.

In addition to the Main Street program aimed at mid-size companies, the Fed also announced a move to “bolster the effectiveness” of the PPP by providing term finance to institutions lending through the program.

While the Fed already has entered the municipal bond market, the latest steps establish a new Municipal Liquidity Facility that will offer up to $500 billion in lending to states and municipalities. The Treasury will provide a $35 billion backstop to the program to guard against potential losses.

The central bank also said it will expand three existing credit facilities aimed at increasing credit to households and businesses. The new effort will target $850 billion through the three facilities, a move backed by $85 billion in protection from the Treasury.

The Fed also expanded the type of collateral it will accept through one of the programs, known as the Term Asset-backed Loan Facility.

This is breaking news. Check back here for updates.


0%(0)
0%(0)
标 题 (必选项):
内 容 (选填项):
实用资讯
北美最大最全的折扣机票网站
美国名厂保健品一级代理,花旗参,维他命,鱼油,卵磷脂,30天退货保证.买百免邮.
一周点击热帖 更多>>
一周回复热帖
历史上的今天:回复热帖
2019: 快讯:航空自卫队三泽基地一架F35战机从
2019: 我的建议生效,呵呵,华为说可以给Appl
2018: 自行建造的第二艘航母如果不是核动力,
2018: 翻出老本子,找出密码,居然登录了。我
2017: 震惊! 详解美军的单兵装备 258页 pdf
2017: 玻利维亚代表就化学武器事件,讽刺美国
2016: 绝不能用中华民族的血汗培养中华文明的
2016: 吴建民用中国旧外交官思维方式,过分夸
2015: BBC: 毕福剑就不雅言论道歉 引10万多网
2015: 刘亚洲上将:中国是告密成风之国(图)