Main Street Lending Program of the Federal Reserve
On the latest episode of the ABA Banking Journal Podcast, Brian Miller, the Treasury Department special inspector general for pandemic relief, discusses the effectiveness of COVID relief programs and investigations into fraud involving these programs.
With the Main Street Lending Program set to wind down at year-end, the Federal Reserve updated its frequently asked questions for for-profit businesses and nonprofit businesses to address the termination of the Main Street facilities.
With several emergency credit facilities created to respond to the COVID-19 emergency scheduled to wind down by year’s end, Treasury Secretary Steven Mnuchin today asked the Federal Reserve to return unused funds in several facilities to the Treasury.
o encourage greater participation in the Main Street Lending Program, the Federal Reserve today announced several actions it has taken to make MSLP loans available to more businesses.
Even when applicants are eligible for the Federal Reserve’s Main Street Lending Program, participating banks made just a tiny fraction of loans through the program, according to Fed survey research released today.
The Federal Reserve today clarified its expectations for lenders when underwriting Main Street Lending Program loans.
The Securities and Exchange Commission today informed ABA that it does not object to the association’s conclusion that Main Street Lending Program transactions meet the legal isolation criteria necessary for sale accounting treatment under U.S. generally accepted accounting principles.
The Federal Reserve today expanded the Main Street Lending Program to permit access for a broader range of 501(c)(3) and 501(c)(19) nonprofit organizations.
The Federal Reserve today unveiled an interactive state-by-state map listing lenders participating in the Main Street Lending Program that have chosen to be listed and are currently accepting applications from new customers.
The Federal Reserve announced that its Main Street Lending Program is fully operational as of today.