World News

New York Fed opens registration for commercial paper funding facility

NEW YORK (Reuters) – The Federal Reserve Bank of New York opened the registration process for the upcoming commercial paper funding facility, which will backstop lending markets and help keep credit available for U.S. businesses and households.

The New York Fed says eligible issuers that want to participate when the CPFF begins funding purchases on April 14 must register by April 9.

After that date, eligible issuers are required to register at least two business days in advance of participation. Read more about the registration process here and about the CPFF here

(Reporting by Jonnelle Marte; Editing by Chizu Nomiyama)