Profiles · Officials · Federal Reserve
- Type
- Person
- Role
- Official · Federal Reserve
- Programs
- PPPLF
- Updated
The profile
The Minneapolis Fed's PPPLF materials describe the facility as term financing backed by PPP loans.
Identity and role
Neel Kashkari has been president and CEO of the Federal Reserve Bank of Minneapolis since January 1, 2016. The Board of Governors selected his Reserve Bank to administer the Paycheck Protection Program Liquidity Facility (PPPLF) for the entire Federal Reserve System.
Kashkari did not run the SBA or approve PPP borrowers.
Pandemic-relief / PPP-EIDL role
A Minneapolis Fed article says the Federal Reserve established the PPPLF, authorized by the Board under Chair Jerome H. Powell on April 8, 2020, with the Minneapolis Fed "at the helm." Federal Reserve History likewise states that the Minneapolis Fed was selected by the Board to manage the facility, which placed PPPLF operations under Kashkari's Reserve Bank: collateral monitoring, lender advances and repayment, and nonpayment risk.
Their own relief
No personal PPP loan, company loan, or enforcement matter was located. A September 2024 Federal Reserve Board/CFPB OIG report later reviewed the Board's PPPLF collateral risk-management processes.
Legal status / controversies
We found no personal criminal charge, civil enforcement order, settlement, conviction, or fraud finding for Neel Kashkari.
Where they are now (2025–2026)
The Minneapolis Fed still lists Kashkari as president and CEO, with 2026 speeches and policy appearances on its site.
Sources held in this archive
Original source documents and archived captures
- Federal Reserve Board/CFPB OIG, PPPLF collateral risk management report, Sept. 2024
- Federal Reserve History, Federal Reserve Bank of Minneapolis essay
- Minneapolis Fed, "The Fed's emergency lending supports the Paycheck Protection Program" 2021
- Minneapolis Fed, PPPLF key information page
- Minneapolis Fed biography, Neel Kashkari
Sources
- Minneapolis Fed, PPPLF key information page: Minneapolis Fed, PPPLF key information page (original: minneapolisfed.org · stored capture)
- Minneapolis Fed, "The Fed's emergency lending supports the Paycheck Protection Program" (2021): Federal Reserve Bank of Minneapolis, PPPLF explainer (original: minneapolisfed.org · stored capture)
- Federal Reserve History, Federal Reserve Bank of Minneapolis essay: Federal Reserve History, Federal Reserve Bank of Minneapolis essay (original: federalreservehistory.org · stored capture)
- Minneapolis Fed biography, Neel Kashkari: Minneapolis Fed biography, Neel Kashkari (original: minneapolisfed.org · stored capture)
- Federal Reserve Board/CFPB OIG, PPPLF collateral risk management report, Sept. 2024: Board Ppplf Risk Management Processes Sep2024 Pdf E9C44749Bd2Aea0B (original: oig.federalreserve.gov · stored capture)