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New York Fed Announces Primary Market Corporate Credit Facility Launches on June 29

The New York Fed today announced that the Primary Market Corporate Credit Facility (PMCCF) is operational and available for use beginning June 29.

The PMCCF provides a funding backstop for corporate debt to eligible issuers and is available to (i) purchase qualifying bonds as the sole investor in a bond issuance and (ii) purchase portions (up to 25%) of syndicated bonds at issuance (“co-investor” transactions).

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