Fed’s Quarles Says Main Street Facility Funds Couple Weeks Away

Federal Reserve Vice Chairman Randal Quarles said getting loans to mid-sized U.S. businesses through the central bank’s newly created Main Street lending facility is two-to-three weeks away.

“We are putting together the mechanisms for that credit to be distributed through the banks,” Quarles, the Fed’s vive chair for supervision, said Friday in a webcast discussion hosted by the University of Utah. “That’s probably 2-3 weeks away, a couple weeks away.”