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US banks’ deposit insurance assessment to see small-business loans’ impact removed, FDIC says

( June 22, 2020, 21:22 GMT | Official Statement) -- MLex Summary: US banks’ deposit insurance assessment won’t be subject to increases due to the firms’ participation in the Small Business Administration’s Paycheck Protection Program and the Money Market Mutual Fund Liquidity Facility, the Federal Deposit Insurance Corporation said. The PPP funnels loans to small businesses through banks. The Money Market Mutual Fund Liquidity Facility was established by the Federal Reserve to help stabilize the financial system during the pandemic.Statement follows in full. ...

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