New York Fed to begin SMCCF bond sales
Federal Reserve plans to offload $13.7 billion in corporate debt bought as pandemic measure
The New York Fed announced that on June 7 it will begin sales of corporate bonds bought under one of its pandemic liquidity programmes.
The Secondary Market Corporate Credit Facility bought $13.7 billion in corporate debt between May and December 2020. The sales will begin with the facility’s exchange-traded funds, which make up $8.5 billion of SMCCF assets.
Officials from the New York Fed have said they hope to sell off the whole portfolio by the end of 2021. The New York Fed said in a
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