July 28, 2020 / 1:42 PM / 14 days ago

Fed announces extension in lending facilities until end of the year

WASHINGTON, July 28 (Reuters) - The U.S. Federal Reserve said on Tuesday it will extend several of its lending facilities through the end of the year, in a sign the economic impact of the novel coronavirus pandemic has been more prolonged than expected.

The extensions apply to those facilities that were due to expire on or around Sept. 30, the Fed said in a statement.

“The three-month extension will facilitate planning by potential facility participants and provide certainty that the facilities will continue to be available to help the economy recover,” the Fed said.

The U.S. central bank said the extensions apply to the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Primary Market Corporate Credit Facility, Secondary Market Corporate Credit Facility, Term Asset-Backed Securities Loan Facility, Paycheck Protection Program Liquidity Facility, and Main Street Lending Program. (Reporting by Lindsay Dunsmuir; Editing by Chris Reese)

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