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Secondary Market Corporate Credit Facility

Metadata Updated: December 18, 2024

In response to the COVID-19 crisis, the Board's emergency lending facilities have provided a critical backstop. The Board launched a centralized 13(3) Lending Facilities Data Repository on November 6, 2020 to bring together the emergency lending facilities data from different systems and databases. The Federal Reserve established the Secondary Market Corporate Credit Facility (SMCCF) on March 23, 2020, to support credit to employers by providing liquidity to the market for outstanding corporate bonds. The SMCCF supports market liquidity by purchasing in the secondary market corporate bonds issued by investment grade U.S. companies or certain U.S. companies that were investment grade as of March 22, 2020, as well as U.S.-listed exchange-traded funds whose investment objective is to provide broad exposure to the market for U.S. corporate bonds. The SMCCF's purchases of corporate bonds will create a portfolio that tracks a broad, diversified market index of U.S. corporate bonds. The Treasury, using funds appropriated to the ESF through the CARES Act, will make an equity investment in an SPV established by the Federal Reserve for the SMCCF and the Primary Market Corporate Credit Facility. The SMCCF ceased purchasing eligible assets on December 31, 2020.

Access & Use Information

Public: This dataset is intended for public access and use. License: No license information was provided. If this work was prepared by an officer or employee of the United States government as part of that person's official duties it is considered a U.S. Government Work.

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Dates

Metadata Created Date December 18, 2024
Metadata Updated Date December 18, 2024

Metadata Source

Harvested from Federal Reserve

Additional Metadata

Resource Type Dataset
Metadata Created Date December 18, 2024
Metadata Updated Date December 18, 2024
Publisher Board of Governors of the Federal Reserve System
Maintainer
Identifier FRBCNA18
Data Last Modified 2021-10-13
Public Access Level public
Bureau Code 920:00
Schema Version https://project-open-data.cio.gov/v1.1/schema
Harvest Object Id e1e432f1-d736-43ac-a6ff-cce744a9688e
Harvest Source Id ed4f9073-f069-4049-8ee0-17ff5c98cd46
Harvest Source Title Federal Reserve
Homepage URL https://www.federalreserve.gov/monetarypolicy/smccf.htm
Program Code 920:000
Source Datajson Identifier True
Source Hash 8135688216d3fc13cc93cc71ae793d0ca299d85d5b044b7d887403a0d0b04964
Source Schema Version 1.1

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