Extraordinary times call for extraordinary measures. And the Fed continues to respond appropriately. On April 9, the Federal Reserve once again drew on its full range of authorities to expand and establish lending facilities to provide up to $2.3 trillion in loans to stabilize households, communities and businesses of all sizes during the pandemic crisis and to “ensure that the eventual recovery is as vigorous as possible”. The announcement coincided with a jobless claims report that revealed another 6.6 million Americans had lost their jobs, bringing total unemployment claims close to a staggering 17 million in just three weeks, as measures needed to contain the outbreak continued to take their toll on the U.S. economy. Below we take a closer look at the programs that partner with the securitization industry to help bring much needed liquidity back to the American economy. A summary of these programs may be found on our website.
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