The Federal Reserve Board announced today that it will extend its Paycheck Protection Program Liquidity Facility, or PPPLF, by three months to June 30, 2021, the extension of which aims to provide continued support for the flow of credit to small businesses through the PPP.

The PPPLF extends term credit to financial institutions making PPP loans, accepting the PPP loans as collateral, with the liquidity provided by the PPPLF helping eligible financial institutions fund additional PPP loans, according to the Federal Reserve Board.

The other currently active 13(3) facilities — the Commercial Paper Funding Facility, the Money Market Mutual Fund Liquidity Facility and the Primary Dealer Credit Facility — have not had significant usage since last summer and will expire as scheduled on March 31, according to the Federal Reserve Board.