US Federal Reserve Extends Emergency Lending Programs Through March 31 - Board

WASHINGTON (UrduPoint News / Sputnik - 30th November, 2020) The Federal Reserve said on Monday it has extended emergency lending programs that were set to expire at the end of this year through March 31 to provide critical short-term funds to markets still distressed by the coronavirus pandemic.

"By backstopping critical short-term funding markets, these facilities are supporting market functioning and enhancing the flow of credit to the economy," the Fed's board said in a statement. "The extension, which has also been approved by the Treasury Department, will facilitate planning by potential facility participants and provide certainty that the facilities will continue to be available through the first quarter of 2021 to help the economy recover from the COVID-19 pandemic."