This story appeared in Bank Digest.
The Federal Reserve Board has expanded access to its Paycheck Protection Program Liquidity Facility (PPPLF) to additional lenders and expanded the collateral that can be pledged. The changes are intended to facilitate lending to small businesses via the Small Business Administration's Paycheck Protection Program. As a result of the changes, the Fed said, all PPP lenders approved by the SBA, including non-depository institution lenders, are now eligible to participate in the PPPLF. In addition, eligible borrowers will be able to pledge whole PPP loans that they have purchased as collateral to the PPPLF.