The emergency lending period was supposed to run until Sept. 30 to help extend credit to small businesses. The central bank was pushed into numerous credit facilities after the markets froze because of fears over the coronavirus pandemic.
“The extraordinary Federal Reserve response to the COVID-19 pandemic, supported by Treasury’s equity capital, has played a vital role in improving liquidity and restoring market function,” Mnuchin said in a statement. “Through this extension, we will continue to support the flow of credit to American workers, businesses and municipalities.”
Mnuchin said the programs covered under the plan include facilities for primary dealers and money markets, corporate bond purchases on the primary and second markets and Main Street Lending Program.
The Term Asset-Backed Securities Loan facility and the Paycheck Protection Program Liquidity facility were also included.