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Ex. AGY-FED-FINANCIAL-028 Order Primary source read

Board statement of March 15, 2020, Federal Reserve Actions to Support the Flow of Credit to Households and Businesses

Federal Reserve Actions to Support the Flow of Credit to Households and Businesses

Board of Governors of the Federal Reserve System · United States; Board of Governors of the Federal Reserve System (federal) (Federal)

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The record

Jurisdiction
United States; Board of Governors of the Federal Reserve System (federal)
Level
Federal
Authority
12 U.S.C. § 461(b); § 347b
Issued
2020-03-15 Mar. 15, 2020
Effective
2020-03-15 (discount window changes March 16; reserve requirements to zero March 26) (read as 2020-03-15)
End
Reserve requirement change permanent; discount window terms continued (read as 2021-09-30)
In force
Mar. 15, 2020 to Sept. 30, 2021
Quarters
2020 Q22020 Q32020 Q42021 Q12021 Q22021 Q3
Limitation types
Emergency declarationOther
Addressees
  • depository institutions
Functions reached
  • BL
  • CL
  • OP liquidity management
Collection
Federal financial regulators AGY-FED-FINANCIAL

Operative words

The Federal Reserve encourages depository institutions to turn to the discount window to help meet demands for credit from households and businesses at this time.... [The Board reduced] reserve requirement ratios to zero percent effective on March 26.

Enforcement

12 C.F.R. parts 201, 204

Notes

Predicate statement for Exs. 007 and 010; context on the March 15, 2020 emergency footing of the banking system

A record of The COVID Project. The instrument's text is the source's; the summary fields are The COVID Project's reading of it. Not legal advice.