April 23, 2020 / 7:42 PM / a month ago

Fed to keep some secrets on lending facilities to avoid stigma

SAN FRANCISCO, April 23 (Reuters) - The U.S. Federal Reserve will disclose much more than it did in the last crisis about who is borrowing how much under its emergency facilities, it said on Thursday, but it will still keep some secrets, especially for programs designed to stabilize key short-term financial markets.

Users of the Fed’s primary dealer, commercial paper and money market facilities can expect their identities to be kept under wraps while the programs are still active so as to avoid stigma and not scare firms from using them when needed, according to the Fed.

Less stigma is considered to be involved in the Main Street Lending program to medium-sized business, according to the Fed. (Reporting by Ann Saphir; Editing by Andrea Ricci and Sandra Maler)

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