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The Federal Reserve Board on Wednesday..........>

FED: The Federal Reserve Board on Wednesday announced an expansion in the number
and type of entities eligible to directly use its Municipal Liquidity Facility
(MLF). Under the new terms, all U.S. states will be able to have at least two
cities or counties eligible to directly issue notes to the MLF regardless of
population. Governors of each state will also be able to designate two issuers
in their jurisdictions whose revenues are generally derived from operating
government activities (such as public transit, airports, toll facilities, and
utilities) to be eligible to directly use the facility. In addition to the
expanded terms outlined above, the MLF continues to be directly open to U.S.
states, the District of Columbia, U.S. cities with a population of at least
250,000 residents, U.S. counties with a population of at least 500,000
residents, and certain multistate entities. The MLF was established under
Section 13(3) of the Federal Reserve Act, with approval of the Treasury
Secretary. It will offer up to $500 billion in lending to states and
municipalities to help manage cash flow stresses caused by the coronavirus
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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