Fed Extends PPP Facility Through June 30

Denise Gillin Uncategorized

By Dan Ennis for BankingDive.com

The Federal Reserve Board is extending through June 30 the Paycheck Protection Program (PPP) Liquidity Facility, the central bank said in a press release Monday.

The program was infused with $284 billion before it relaunched Jan. 11. Roughly $128 billion was still unclaimed as of Feb. 28, according to Small Business Administration data.

The Fed and Treasury Department in November extended the PPP facility through March 31, along with the Commercial Paper Funding Facility, the Money Market Mutual Fund Liquidity Facility and the Primary Dealer Credit Facility. The other three facilities will expire March 31 as scheduled, the Fed said Monday.

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