Search ForexCrunch

The changes made to the US Federal Reserve’s Main Street Lending program were not targeted at oil and gas companies, Boston Federal Reserve President Eric Rosengren said on Friday.

Additional takeaways

“We’ve asked our bank examiners to work with bank managers in making a loan decision.”

“Banks say loans made through the Main Street program are loans they wouldn’t have made traditionally.”

“True startups may tap equity and other forms of financing more attractive than the Main Street program.”

“It will take another several weeks before the Main Street program for nonprofits is up and running.”

Market reaction

These comments had little to no impact on the greenback’s performance against its rivals. As of writing, the US Dollar Index was up 0.68% on the day at 93.40.