U.S. Congress allocated $454 billion to backstop Fed lending

The Federal Reserve will disclose more details from two more of its emergency lending programs on a monthly basis, responding to congressional pressure for greater transparency. The Fed will release names of participants, lending amounts and the interest rates for the Paycheck Protection Program Liquidity Facility and the Term Asset-Backed Securities Loan Facility, the central bank said in a statement Tuesday. Congress allocated $454 billion to backstop Fed lending that could expand to as much as ten times that amount in the $2.2 trillion virus relief bill signed into law by President Donald Trump in March. (Bloomberg)

President Joko Widodo (Jokowi) has just issued a Government Regulation (PP) on National Economic Recovery (PEN) after the Covid-19 epidemic. In this economic rescue program, various businesses will get support from the Government. (CNBC Indonesia)

Source: Danareksa Sekuritas Debt Research