The Federal Reserve has issued FAQs providing more information about its Commercial Paper Funding Facility (CPFF), originally announced on March 17, 2020 and expanded on March 23, 2020 as part of its response to the coronavirus crisis. The FAQs provide additional details on how the CPFF will work, including further information on eligible issuers, use of proceeds, calculation of program limits, changes in issuer ratings, ineligible instruments and administrative matters.
