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NY Fed's latest research from Liberty Street....>

FED
FED: NY Fed's latest research from Liberty Street Economics asks "Where Have the
Paycheck Protection Loans Gone So Far?" Quick conclusions:
* PPP loans are Not correlated to Covid-19 prevalence nor Unemployment Claims,
while
* States with higher community bank shares have higher shares of PPP loans.
NY Fed economists Haoyang Liu and Desi Volker, "find that lenders' preference
for borrowers with an existing relationship and the market share of community
banks are the main factors explaining the geographical variation in PPP
funding." Link to site:
https://tinyurl.com/y8jsp7lk

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