Fed Outlines Plan for Facilities’ Extensive and Timely Public Information
Provided by Structured Finance Association
On Thursday, April 23, the Federal Reserve (Fed) released a statement outlining information they will publicly disclose regarding lending and liquidity facilities that use CARES Act funding. In their announcement, they noted that the following information would be released on a monthly basis: 1) names and details of participants in each facility, 2) amounts borrowed and interest rate charged, and 3) overall costs, revenues, and fees for each facility. Fed Chairman Jerome Powell highlighted that, “The Federal Reserve is committed to transparency and accountability by providing the public and Congress detailed information about our actions to support the economy during this difficult time.”
Read more via the Federal Reserve.