Key information on the Paycheck Protection Program Liquidity Facility (PPPLF)
Summary
Federal Reserve Bank of Minneapolis page on the Paycheck Protection Program Liquidity Facility (PPPLF), which the bank manages on behalf of the Federal Reserve System. The facility extends credit to eligible financial institutions that originate PPP loans, taking the loans as collateral at face value, to supply liquidity behind the Small Business Administration's program. It links Federal Reserve press releases announcing the PPPLF (April 16, 2020), working to expand access (April 23, 2020), expanding access and eligible collateral (April 30, 2020) and setting monthly disclosures (May 12, 2020). Questions about the facility go to the institution's local Reserve Bank, and the page lists Ninth District contacts at the Minneapolis Fed's Credit/PSR Section.
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“Key information on the Paycheck Protection Program Liquidity Facility (PPPLF).”
Original at www.minneapolisfed.org. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/minneapolis-fed-ppplf-key-information-page-d1dd14b160/
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Banking Key information on the Paycheck Protection Program Liquidity Facility (PPPLF) To bolster the effectiveness of the Small Business Administration's Paycheck Protection Program (PPP), the Federal Reserve is supplying liquidity to participating financial institutions through term financing backed by PPP loans to small businesses. The PPP provides loans to small businesses so that they can keep their workers on the payroll. The Paycheck Protection Program Liquidity Facility (PPPLF), managed by the Federal Reserve Bank of Minneapolis on behalf of the Federal Reserve System, will extend credit to eligible financial institutions that originate PPP loans, taking the loans as collateral at face value. This program is for financial institutions who have made PPP loans. Questions regarding the PPPLF should be directed to the institution’s local Reserve Bank or to PPPLF@chi.frb.org. Operational details and additional information: Press Release: Federal Reserve announces information to be disclosed monthly for the TALF and the Paycheck Protection Program Liquidity Facility (May 12, 2020) Press Release: Federal Reserve expands access to PPPLF to additional lenders, and expands the collateral that can be pledged (April 30, 2020) Press Release: Federal Reserve working to expand access to the PPPLF (April 23, 2020) Press Release: Announcing the PPPLF (April 16, 2020) PPPLF for Non-Depository Institutions PPPLF Term Sheet Frequently asked questions about the PPPLF Other Fed actions related to COVID-19 impacts PPPLF Contact Information for the Minneapolis Fed’s Ninth District The following contact information is to be used when submitting PPPLF related documents. PPPLF Email mpls.credit@mpls.frb.org General Inquiries Regarding OC-10 Legal Agreements, Loan and Payment Requests and Collateral Questions Monday - Friday, 7:30 a.m. - 5:30 p.m. (CST) or until the close of Fedwire (877) 837-8815 Toll Free Phone (800) 553-9656 General Phone (612) 204-5911 Fax Number Mailing address: Credit/PSR Section Federal Reserve Bank of Minneapolis P.O. Box 291 Minneapolis, MN 55480-0291 Physical Address: Federal Reserve Bank of Minneapolis 90 Hennepin Avenue Minneapolis, MN 55401
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