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Stock impact report

UPDATE 2-Fed launches commercial paper liquidity backstop Tuesday [Reuters (UK)]

Federated Hermes, Inc. (FHI) 
Last federated hermes, inc. earnings: 4/30 04:17 pm Check Earnings Report
Company Research Source: Reuters
Fed to launch commercial paper liquidity backstop Tuesday - Reuters 4 Min Read (Reuters) - A funding backstop the U.S. Federal Reserve launches on Tuesday should help address liquidity problems that have lingered in the coronavirus-roiled commercial paper market, although participation by debt issuers may be short-lived, analysts said. The Commercial Paper Funding Facility’s special purpose vehicle will purchase higher rated, three-month unsecured and asset-backed paper from eligible bank, corporate, special-purpose entity, and municipal issuers using financing from the New York Federal Reserve. The vehicle, which was announced on March 17, will begin making purchases on Tuesday according to the New York Fed. The program is similar to an operation used during the 2008 financial crisis, in which the central bank acts as a lender of last resort for companies otherwise unable to borrow in the short-term market. Short-term credit markets had come under strain amid worries that companies h Show less Read more
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