Summary: As part of its response to the global coronavirus pandemic, the Federal Reserve is launching a Main Street Lending Program to deliver up to $600 billion in credit to small and midsize firms. Among other topics, ABA experts discuss: how MSLP, as a loan program with a degree of risk retention, differs from the PPP; this week’s changes to MSLP term sheets, including some advocated by ABA; and areas where ABA is recommending further changes, including on minimum loan sizes and on reference rate choice.
