15 May Fed says around 600 smaller banks tapped PPP facility in its first days
Around 600 banks, most of
them small community institutions, tapped the Federal Reserve’s
Paycheck Protection Program facility for about $30 billion of
loans as of May 6, the U.S. central bank reported on Saturday in
its first detailed disclosure under the new program.
them small community institutions, tapped the Federal Reserve’s
Paycheck Protection Program facility for about $30 billion of
loans as of May 6, the U.S. central bank reported on Saturday in
its first detailed disclosure under the new program.
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