Triple-A CLO paper eligible for Fed's PDCF

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Triple-A CLO paper eligible for Fed's PDCF

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A general view of the Marriner S. Eccles Federal Reserve Board Building in Washington, D.C. on July 22, 2019. Next week the Federal Reserve's Board of Governors will meet to determine interest rate levels – Chairman Jerome Powell has hinted rate cuts may be on the way, as President Trump has repeatedly called for rate cuts. (Graeme Sloan/Sipa USA) | Graeme Sloan/SIPA USA/PA Images

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.

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