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Treasury, Fed setting up new lending facility for large businesses
The Hill: The Treasury Department and Federal Reserve are working on a new lending facility for large businesses that are not investment grade as a way to help them weather the coronavirus downturn, Treasury Secretary Steven Mnuchin said Wednesday.
Speaking on CNBC, Mnuchin said that the new "main street lending facility" would be available for companies with more than 500 workers that don't have the same credit status as other large firms.
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