Update: Federal Reserve Board extends its Paycheck Protection Program Liquidity Facility to June 30, 2021

March 8, 2021

The Federal Reserve’s Paycheck Protection Program Liquidity Facility (PPPLF) bolsters the effectiveness of the Small Business Administration's Paycheck Protection Program (PPP) by supplying liquidity to participating financial institutions through term financing backed by PPP loans to small businesses.

The PPPLF extends credit to all lenders that are eligible to originate PPP loans, taking the loans as collateral at face value. On March 8, the Federal Reserve Board announced (Off-site) it will extend its PPPLF by three months to June 30, 2021. The extension will provide continued support for the flow of credit to small businesses through the PPP.

Additional PPPLF information can be found on the Discount Window website, including documentation requirements (Off-site) and FAQs (Off-site). Inquiries about this program can be sent to ppplf@chi.frb.org.

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