Category Archives: Uncategorized

  1. Federal Reserve Municipal Liquidity Facility: A Guide for State & Local Governments

    On April 9, 2020, The Federal Reserve launched the Municipal Liquidity Facility (“MLF”), a credit facility that will purchase up to $500 billion of Eligible Notes (defined below) issued by eligible states, local governments, and instrumentalities (“Eligible Issuers”). The term sheet released by the Federal Reserve (available here) on April 9th further clarifies the terms…

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