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MNI: Text - Fed Expands Terms of MMLF Program

     WASHINGTON (MNI) - The Federal Reserve released the following press release
Friday: 
     The Federal Reserve Board on Friday expanded its program of support for the
flow of credit to the economy by taking steps to enhance the liquidity and
functioning of crucial state and municipal money markets. Through the Money
Market Mutual Fund Liquidity Facility, or MMLF, the Federal Reserve Bank of
Boston will now be able to make loans available to eligible financial
institutions secured by certain high-quality assets purchased from single state
and other tax-exempt municipal money market mutual funds. 
     The attached term sheet details the assets that are eligible under the MMLF
program, as well as additional information. 
     More detailed program terms and conditions and an operational calendar will
be published soon.
     Link:
https://www.federalreserve.gov/newsevents/pressreleases/monetary20200320b.htm
--MNI Washington Bureau; +1 202 371 2121; email: evan.ryser@marketnews.com
[TOPICS: MMUFE$,M$U$$$,M$$CR$,MGU$$$]

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