Fed extends emergency facilities for three months
Move comes as US Covid-19 reported cases surge to record highs ahead of July FOMC decision
The Federal Reserve has extended by three months some of the emergency lending facilities it set up to buffer financial markets during the coronavirus pandemic.
Seven lending facilities will now expire on December 31 instead of September 30, the Fed announced on July 28. The Fed has been using the facilities to purchase corporate bonds, exchange-traded funds and other securities since they were announced in March and April.
The Municipal Liquidity Facility and Commercial Paper Funding Facility
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