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ABA: The American Bankers Association
Statement

ABA Statement on Fed Actions to Support the Economy

"The Federal Reserve today took unprecedented action to limit the immediate economic pain from the COVID-19 crisis. We are reviewing the details of the sweeping new programs announced this morning, but we already know that the Fed's actions will allow more banks to help more small businesses by providing additional liquidity to the thousands of institutions participating in the Paycheck Protection Program. The Fed is also providing financial support to small and mid-sized businesses with the launch of the Main Street Lending Program. America's banks are again being asked to play a critical role in that program, and I have no doubt they will step up to do so at this difficult time for the nation."

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $20.3 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $15.8 trillion in deposits and extend nearly $11 trillion in loans.

Press Contact

Ian McKendry

(202) 663-5473

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