Board of Governors of the Federal Reserve System

Primary Dealer Credit Facility

The Federal Reserve Board established a Primary Dealer Credit Facility (PDCF) on March 17, 2020, to support the credit needs of American households and businesses. The facility will allow primary dealers to support smooth market functioning and facilitate the availability of credit to businesses and households.

• FAQs
• Term Sheet (March 17, 2020) (PDF)

Reports to Congress

• Periodic Report: Update on Outstanding Lending Facilities Authorized by the Board under Section 13(3) of the Federal Reserve Act (May 24, 2020)
• Periodic Report: Update on Outstanding Lending Facilities Authorized by the Board under Section 13(3) of the Federal Reserve Act (April 24, 2020)
• Report to Congress Pursuant to Section 13(3) of the Federal Reserve Act: Primary Dealer Credit Facility (PDF) (March 25, 2020)

Related Press Releases

• Federal Reserve Board announces establishment of a Primary Dealer Credit Facility (PDCF) to support the credit needs of households and businesses
  (March 17, 2020)