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6/11/2020 Statement from Secretary Steven T. Mnuchin on the Start of Secondary Market Corporate Credit Facility Purchases | U.S. Department of … Statement from Secretary Steven T. Mnuchin on the Start of Secondary Market Corporate Credit Facility Purchases May 12, 2020 WASHINGTON – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement on the start of certain Secondary Market Corporate Credit Facility purchases: “Since announcing the Primary and Secondary Market Corporate Credit Facili es (PMCCF and SMCCF) on March 23, we have seen a drama c improvement in liquidity and credit market func on. Today, the Federal Reserve Bank of New York will begin purchasing shares of eligible U.S.listed exchange-traded funds in the secondary market through the SMCCF, and eligible corporate bonds shortly therea er. Once opera onal, the PMCCF will provide loan and bond financing to U.S. companies with investment grade debt ra ngs as of March 22, 2020. The SMCCF and PMCCF are supported by a $75 billion equity investment using funds appropriated to the Department of the Treasury under the CARES Act, $37.5 billion of which was transmi ed yesterday to the special purpose vehicle established in connec on with the SMCCF and PMCCF. Together, they will provide up to $750 billion in liquidity and help ensure large employers have access to the credit they need to maintain their business opera ons and payroll through this challenging period.” #### https://home.treasury.gov/news/press-releases/sm1007 1/1
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