The Federal Reserve’s Main Street Lending Program for the US small and medium-sized businesses facing tough times due to the coronavirus pandemic saw the largest weekly uptake on record, data released on Thursday showed. Main Street loans held by the central banks rose by $131 million to $226 million as of Wednesday from $95 million a week earlier, as noted by Reuters News. Under the Main Street Lending Program, the central bank buys 95% of a loan initiated by a private lender to a qualified business. The program launched last month saw limited use until last week. Officials now foresee a spike in interest. “The low use of the program early on is not a sign of failure and more businesses may turn to the facility in the fall if the economy worsens,” Boston Federal Reserve President Eric Rosengren, who is managing the program for the Fed, said on Wednesday. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD Price Analysis: Bears can catch a breather around three-week-old support line above 0.6500 FX Street 2 years The Federal Reserve’s Main Street Lending Program for the US small and medium-sized businesses facing tough times due to the coronavirus pandemic saw the largest weekly uptake on record, data released on Thursday showed. Main Street loans held by the central banks rose by $131 million to $226 million as of Wednesday from $95 million a week earlier, as noted by Reuters News. Under the Main Street Lending Program, the central bank buys 95% of a loan initiated by a private lender to a qualified business. The program launched last month saw limited use until last week. Officials now foresee… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
