Primary dealers lower expectations for take-up of Main Street loan program: NY Fed Survey

July 2, 2020

NEW YORK (Reuters) – Large financial institutions that work closely with the Federal Reserve slashed in half their expectations for how much take-up they expect from the central bank’s new Main Street lending program, according to a survey released Thursday by the New York Fed.

Primary dealers’ median expectations for what usage of the Main Street New Loan Facility and the Main Street Expanded Loan Facility would be by September 30 declined to $100 billion and $125 billion respectively in June from $250 billion in April. Read the survey results here https://www.newyorkfed.org/medialibrary/media/markets/survey/2020/jun-2020-spd-results.pdf.

(Reporting by Jonnelle Marte, Editing by Franklin Paul)