Fed Reserve extends emergency programs until March 31, 2021

The US Federal Reserve said today that it is extending its emergency liquidity programs for commercial paper and other major financial markets until March 31 to help financial markets plan until early next year. The Fed added in a statement that the programs support the market performance and enhance the flow of credit, and that the extension of these programs will help market participants to plan until the first quarter of 2021, and thus the recovery of the US economy. Earlier, US Treasury Secretary Stephen Mnuchin ordered the closure of a separate set of Federal Reserve programs, effective Dec.31, ending Federal Reserve lending directed to Main Street and local governments.