The Fed's Emergency Lending Powers Explained

Heather Hennerich

Open Vault from Federal Reserve Bank of St. Louis

Abstract: In 1932, Congress gave the Fed the authority to make emergency loans to firms other than banks. The central bank used that 13(3) authority during the COVID-19 crisis for only the third time.

Date: 2021-03-31
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Persistent link: https://EconPapers.repec.org/RePEc:fip:l00100:102619

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