WASHINGTON (Bloomberg) --The Federal Reserve revamped its Main Street
Lending Program in ways that will allow battered oil companies to
qualify for the aid after industry allies lobbied the Trump
administration for changes.
Larger, more heavily indebted companies can now qualify and use the
money to pay off prior loans under the changes the central bank
announced Thursday.
The move opens the door to more oil and gas producers, said Senator
Kevin Cramer, a Republican from North Dakota, who had pressed the
administration on the issue as energy companies struggle to survive an
epic collapse in fuel demand and crude prices.
https://www.worldoil.com//news/2020/5/1/more-oil-companies-qualify-for-federal-reserve-loans-after-rules-change
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