Fed to Extend Some Lending Facilities Through March

The Federal Reserve today announced that it would extend several lending facilities that were set to expire on or around Dec. 31 to March, 31, 2021. The extensions apply to the Commercial Paper Funding Facility, the Money Market Mutual Fund Liquidity Facility, the Primary Dealer Credit Facility and the Paycheck Program Liquidity Facility.

The Fed said the extension is intended to aid planning by potential participants and provide certainty that the facilities will be available through the first quarter of 2021 to help the economy recover from the COVID-19 pandemic.