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Fed Extends Measures To Ease Credit

FED

The Federal Reserve issues a notice that it has extended "temporary actions aimed at increasing the availability of intraday credit extended" by Fed banks, to Mar 31 2021 (they had been announced April 23, and had been set to expire yesterday, Sep 30).

Per the Fed press release: "These temporary actions: (1) suspend uncollateralized intraday credit limits (net debit caps) and waive overdraft fees for institutions that are eligible for the primary credit program; (2) permit a streamlined procedure for secondary credit institutions to request collateralized intraday credit (max caps); and (3) suspend two collections of information that are used to calculate net debit caps."

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