COVID-19 U.S.: Federal Reserve's measures to help the economy weather COVID-19

Hogan Lovells

On March 23, 2020, the Federal Reserve announced that it will use its powers under Section 13(3) of the Federal Reserve Act to launch new liquidity facilities to help provide financing to U.S. businesses, employers, and consumers. The facilities will provide up to US$300 billion in new financing and the U.S. Treasury will support these facilities by making a US$30 billion in equity investment in the respective special purpose vehicle (SPV) using the Exchange Stabilization Fund.

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