Main Street Lending Program

Fed’s aid program for midsize businesses spent only 3% of its total


The Federal Reserve’s Main Street Lending Program, which was designed to provide emergency support to midsize U.S. companies during the pandemic, lent out a total $17.5 billion — or just 3% of its potential capacity — according to data released Tuesday by the central bank.


Pandemic watchdog is probing Mnuchin, Cruz roles in Fed lending


A federal watchdog is looking into former Treasury Secretary Steven Mnuchin’s decision to roll back the U.S. Federal Reserve’s emergency lending programs at the end of 2020, an issue that has become a point of partisan tension in Congress.


Fed returns money to Treasury for terminated emergency programs


The Federal Reserve has returned about $42 billion to the U.S. Treasury, and will soon transfer another $20 billion in excess funds connected to emergency lending facilities that stopped offering new loans last month, it said Thursday.


Fed extends Main Street program to process more loans


Treasury Secretary Steven Mnuchin approved the extension of the Main Street Lending Program, which offers loans to midsize companies affected by the pandemic, to Jan. 8.


'We will continue to do our jobs,' Fed's Powell vows as election drags on


Asked about the political uncertainty surrounding the undecided presidential race, Federal Reserve Chair Jerome Powell said the central bank isn’t wavering from its duty “to support the economy during this difficult time.”


Fed lowers Main Street loan threshold in bid to boost interest


Underwhelming participation in the middle-market loan program has forced the central bank to reduce the minimum borrowing amount for the third time, to $100,000.


Bankers skeptical Fed’s Main Street program will pick up steam


Loan officers surveyed by the central bank said the subpar creditworthiness of some applicants and the ability of others to find credit elsewhere are among reasons the middle-market rescue facility has fizzled.


CRE concerns intensify as stimulus programs expire


Commercial real estate loans are vulnerable as financial assistance for tenants winds down and might not be fully renewed. Late rent payments could rise, leading lenders to press landlords to pay up.


Powell grilled by Congress over how Fed is helping Main Street


The Fed chief said that with its Main Street Lending Program, the central bank has “done basically all of the things that we can think of.”