Federal Reserve Banks

Federal Reserve Banks and Federal Home Loan Banks May Accept Pledges of PPP Loans as Collateral

04/24/20

The Small Business Administration’s (“SBA”) Paycheck Protection Program (“PPP”) guarantees loans from qualified lenders to small businesses impacted by the COVID-19 pandemic so that those businesses can keep workers employed.  In the Third Interim Final Rule issued on April 20, 2020 (see 85 Fed. Reg.

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