Policy Tools
Money Market Mutual Fund Liquidity Facility
The Federal Reserve established the Money Market Mutual Fund Liquidity Facility, or MMLF, on March 18, 2020, to broaden its program of support for the flow of credit to households and businesses. The Federal Reserve Bank of Boston will make loans available to eligible financial institutions secured by high-quality assets purchased by the financial institution from money market mutual funds. Money market funds are common investment tools for families, businesses, and a range of companies. The MMLF will assist money market funds in meeting demands for redemptions by households and other investors, enhancing overall market functioning and credit provision to the broader economy.
- Frequently Asked Questions (FAQs) (March 27, 2020) (PDF)
- MMLF Request Form (March 25, 2020) (Excel)*
- Agreements and documents
- Term Sheet (March 23, 2020) (PDF)
Market participants with inquiries regarding the Money Market Liquidity Facility can email MMLF@bos.frb.org or call 1-800-322-0580.
Related Press Releases
- Federal Reserve announces extensive new measures to support the economy
(March 23, 2020) - Federal Reserve Board expands its program of support for flow of credit to the economy by taking steps to enhance liquidity and functioning of crucial state and municipal money markets
(March 20, 2020) - Federal Reserve Board broadens program of support for the flow of credit to households and businesses by establishing a Money Market Mutual Fund Liquidity Facility (MMLF)
(March 18, 2020)
*On March 23, 2020, the MMLF collateral spreadsheet was updated to (1) add two MMMF identifiers; and (2) explicitly provide that an individual authorized pursuant to the Borrower's board resolution is requesting an advance in accordance with the MMLF terms and conditions.”
