May 19, 2020 / 7:19 PM / 9 days ago

Fed's Rosengren says central bank would consider lowering minimum loan amount on Main Street facility

NEW YORK, May 19 (Reuters) - Boston Federal Reserve Bank President Eric Rosengren said on Tuesday that policymakers would consider lowering the minimum loan amount for the upcoming Main Street Lending Facility to reach more businesses.

The central bank will continue to gauge interest from businesses and banks for the facility and to check if the funds from the program, which he said should launch by the end of the month, reach the needed areas of the economy, he said.

“We’ll continue to monitor to see whether we need to make adjustments, including whether we have appropriate loan sizes,” Rosengren said during a webinar organized by the New England Council. (Reporting by Jonnelle Marte Editing by Chris Reese)

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