Apr 23, 2020 - Economy & Business

The Fed will begin to disclose recipients of CARES Act financing

Illustration of a hand in a suit handing out a tiny dollar

Illustration: Sarah Grillo/Axios

The Federal Reserve announced Thursday that it will publish details about recipients of its various loans and financings through the CARES Act on a monthly basis, including their names, loan amounts, interest charged and associated costs and fees.

Why it matters: The disclosures won't shed light on recipients of the Paycheck Protection Program since it's not headed up by the Fed. But the move gets ahead of calls for transparency by agreeing to release which businesses get funding from the central bank's $600 billion Main Street Lending Program, as well as a separate program to fund states and municipalities.

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