ABSTRACT

Treasury's Exchange Stabilization Fund and COVID-19 [March 26, 2020]   [open pdf - 623KB]

From the Document: "As part of the U.S. government's economic response to the coronavirus disease 2019 (COVID-19), the 'third' COVID19 stimulus package (H.R. 748), as passed by the Senate on March 25, would appropriate $500 billion to the U.S. Department of Treasury's Exchange Stabilization Fund (ESF) to support loans, loan guarantees, and investments for businesses affected by COVID-19. In addition, the legislation would temporarily permit the use of the ESF to guarantee money markets, as occurred in the 2008 financial crisis. ESF assets have already been pledged in 2020 to backstop several emergency lending facilities created by the Federal Reserve (Fed) in response to financial turmoil caused by COVID-19."

Report Number:
CRS In Focus, IF11474
Author:
Publisher:
Date:
2020-03-26
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations