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U.S. Fed preparing to buy new small business payroll loans: Wall Street Journal - Metro US

U.S. Fed preparing to buy new small business payroll loans: Wall Street Journal

The U.S. Federal Reserve Board building in Washington

(Reuters) – The Federal Reserve and Treasury Department are planning to launch a new program to buy loans that financial firms make through the government’s emergency small-business lending program, the Wall Street Journal reported on Monday, citing people familiar with the matter.

The move would establish a secondary market for loans guaranteed by the Small Business Administration’s Payroll Protection Program, according to the report. (https://on.wsj.com/2whjMkH)

(Reporting by Aishwarya Nair in Bengaluru; Editing by Shounak Dasgupta)

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