Fed Announces Additional $2.3 Trillion in Government Loan Facilities

The Federal Reserve on Apr. 9 announced a dramatic increase to the scale and scope of its mortgage-backed securities purchases, providing up to $2.3 trillion in new loans to support the economy to bolster the ability of state and local governments to deliver services during the coronavirus pandemic.

Fed Bolsters Efforts to Stem Economic Impact of Coronavirus

The Federal Reserve, in its most aggressive actions to date, announced further steps yesterday to mitigate the economic impact of the coronavirus pandemic, including actions strongly advocated for over the weekend by the Mortgage Bankers Association.