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US Treasury spends only $37.5 billion of $500 billion for bail-out of businesses, municipalities

( May 18, 2020, 17:23 GMT | Official Statement) -- MLex Summary: The US Treasury has spent only $37.5 billion of the $500 billion it received from the Cares Act in March to stimulate the economy by extending loans to businesses and investing in Federal Reserve liquidity facilities, according to the first Congressional Oversight Commission report. The only money spent has been in the Fed’s Secondary Market Corporate Credit Facility, which seeks to provide liquidity to corporate bonds, including some sub-investment grade bonds that are tucked into exchange-traded funds. Still unfunded are loans and loan guarantees to the airline industry and critical national security businesses, as well as a host of the Fed’s liquidity facilities, the report said....

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