Triple-A CLO paper eligible for Fed's PDCF

By Paola Aurisicchio
18 Mar 2020

The Federal Reserve said this week that it would revive its Primary Dealer Credit Facility, expanding the program to include triple-A rated CLOs, as the central bank dives deeper into the crisis era playbook to stem the fallout from the coronavirus crisis.

The Fed is dusting off the PDCF, established during the 2008 financial crisis and ended in 2010, to “support smooth market functioning and facilitate the availability of credit to business and households,” it said in a press release. 

The new facility will be available beginning on March 20 and ...

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