Temporary Actions To Support the Flow of Credit to Households and Businesses by Encouraging Use of Intraday Credit

Title:
Temporary Actions To Support the Flow of Credit to Households and Businesses by Encouraging Use of Intraday Credit
Subject: Intraday credit; coronavirus response
Agency: Federal Reserve
Status: Policy statement
Summary:
Due to the extraordinary disruptions from the coronavirus disease 2019 (COVID-19), the Board of Governors of the Federal Reserve System (Board) is announcing temporary actions aimed at encouraging healthy depository institutions to utilize intraday credit extended by Federal Reserve Banks (Reserve Banks). The Board recognizes that the Federal Reserve has an important role in providing intraday balances and credit to foster the smooth operation of the payment system. These temporary actions are intended to support the provision of liquidity to households and businesses and the general smooth functioning of payment systems.
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These temporary actions are effective on April 24, 2020, and will expire on September 30, 2020

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Related Reg Report item(s): Fed moves to make primary, secondary credit more readily available amid COVID-19

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