Business > Market

The Fed will start buying debt backed by emergency small-business loans - giving banks more leeway to offer critical aid

1 month ago   |   By Business Insider

The Federal Reserve announced Monday it will begin buying debt backed by the Small Business Administration's Payroll Protection Program.
The facility will create a new market for the SBA loans and allow lenders to shore up cash for additional aid.
PPP loans are meant to cover roughly two months' worth of payroll and business expenses, and accounted for roughly $350 billion of the government's $2 trillion stimulus package.
Additional details on the facility will be announced later in the week, the Fed said in a statement .
Visit the Business Insider homepage for more stories .
The Federal...
Read more ...

 

Fed says it will provide financing against new 'payroll protection' loans

Fed says it will provide financing against new 'payroll protection' loans

1 month ago   |   By Reuters

The Federal Reserve on Monday moved to bolster a new small-business lending program by allowing banks to turn those loans over to the Fed for cash, easing concerns among banks about getting stuck holding the low interest loans.
Read more ...

 


Search by Tags

   Market      Finance      BusinessNews  


Marine Corps officially bans Confederate battle flag on military bases...

Marine Corps officially bans Confederate battle flag on military bases - including on bumper stickers and coffee mugs

The US Marine Corps has officially banned the Confederate battle flag from both public and work spaces on its military bases - including its display on vehicle bumper stickers... Read more ...

Trump said he hopes George Floyd is 'looking down' from heaven and...

Trump said he hopes George Floyd is 'looking down' from heaven and appreciating the US' strong May jobs report: 'It's a great day for him'

Trump touted a strong May jobs report and said he hoped George Floyd, the Minneapolis man who died in an interaction with police ten days ago, was looking down and appreciating... Read more ...

'No, Macy, I have to disagree with you': Jeff Bezos claps back at an Amazon...

'No, Macy, I have to disagree with you': Jeff Bezos claps back at an Amazon customer complaining about the Black Lives Matter site banner

Amazon CEO Jeff Bezos remained steadfast in his support for the Black Lives Matter movement after a customer emailed him expressing disapproval of the Amazon website's Black... Read more ...

'Greatest miss in forecasting history': 4 economists and strategists react...

'Greatest miss in forecasting history': 4 economists and strategists react to Friday's surprising May jobs report

The May jobs report released Friday from the Labor Department showed the US economy gained 2.5 million jobs and the unemployment rate declined to 13.3%. It was a major surprise... Read more ...

Reddit co-founder resigns from board, urges black replacement

Reddit co-founder resigns from board, urges black replacement

Alexis Ohanian, co-founder of the link-sharing site Reddit, announced his resignation from the company's board of directors Friday and called on the company to replace him with... Read more ...

Marriott says Trump ordered stop to Cuba hotel business

Marriott says Trump ordered stop to Cuba hotel business

The Trump administration has ordered Marriott International to wind down hotel operations in Communist-run Cuba, a company spokeswoman told Reuters, extinguishing what had been... Read more ...

Grubhub rockets 11% on reports of takeover interest from 2 European peers

Grubhub rockets 11% on reports of takeover interest from 2 European peers

Grubhub stock surged as much as 11.5% Friday afternoon on reports European peers Just Eat and Delivery Hero are interested in a takeover of the food delivery service. Grubhub... Read more ...

Developers are marketing bankrupt Neiman Marcus's flagship store - the heart...

Developers are marketing bankrupt Neiman Marcus's flagship store - the heart of NYC's glitzy $25 billion Hudson Yards mega-mall - as office space

Hudson Yards developers Related and Oxford are offering Neiman Marcus's nearly 200,000 square foot store - along with other space - to office tenants, according to marketing... Read more ...

Mainstream Media Ignores Black Unemployment Rising While Celebrating Jobless...

Mainstream Media Ignores Black Unemployment Rising While Celebrating Jobless Rate

Headlines across the internet repeatedly pointed in celebratory terms to the jobs report for May that was released Friday morning. But the good news of the jobless rate... Read more ...

Republicans cheer latest unemployment data

Republicans cheer latest unemployment data

Republican congressional leaders were ecstatic with Friday's unexpectedly positive jobs report, coming after months of grim news over the coronavirus pandemic and the imploding... Read more ...