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The Federal Reserve’s Municipal Liquidity Facility: Providing financial relief but at what cost?

May 21, 2020

Includes “The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, enacted by Congress on March 28, 2020 appears to provide insufficient funding, and many state and local governments need more federal financial assistance. … The Federal Reserve is currently accepting letters of intent for eligible issuers. The MLF will be administered on a first-come-first-served basis. … The Federal Reserve has stated that the MLF is intended to serve as a backstop rather than a competitive market participant. …” 

Read the full article on: The National Law Review

 
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