The Federal Reserve announced this morning that its Paycheck Protection Program Liquidity Facility is fully operational and available for institutions to use. Through the facility, the Fed will extend non-recourse loans to institutions eligible to make PPP loans. PPP loans guaranteed by the SBA that are originated by eligible banks may be pledged as collateral to the Federal Reserve Banks.
California banker elected chair of ABA’s Community Bankers Council
ABA has elected Jon Sisk as chair of the Community Bankers Council for the 2025-2026 association year. Sisk is EVP and chief banking officer of West Coast Community Bank.