Ministry of Finance Reserves a Part of Anti-Crisis Funds for FR Credit Programs

U.S. Treasury Secretary Stephen Mnuchin said on Wednesday that about $259 billion of the anti-crisis package will be reserved for already created or additional programs of lending to the Federal Reserve, but it is not planned to allocate further assistance to airlines at the moment.

Talking to journalists on Zoom, Mnuchin said that the retained capital is planned to be allocated to the Fed’s broad-based lending programs.

I did not want to distribute all the funds at once,” he said. – I wanted to leave something in the reserve to see how well each of these programs works, whether they need additional funds and whether they need additional programs.