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Accounting for COVID-19 Related Funding, Credit, Liquidity, and Loan Facilities in the Financial Accounts of the United States

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Abstract

Beginning in late February 2020, market liquidity for corporate bonds dried up and corporate bond credit spreads soared amid broad financial market dislocations related to the COVID-19 pandemic. The causes of this liquidity dry-up and the spike in corporate bond spreads remain subjects of debate.

Suggested Citation

  • Matthew Hoops & Robert J. Kurtzman, 2021. "Accounting for COVID-19 Related Funding, Credit, Liquidity, and Loan Facilities in the Financial Accounts of the United States," FEDS Notes 2021-07-30-1, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2021-07-30-1
    DOI: 10.17016/2380-7172.2956
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    File URL: https://www.federalreserve.gov//econres/notes/feds-notes/accounting-for-covid-related-funding-credit-liquidity-and-loan-facilities-20210730.htm
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    Cited by:

    1. Mary C. Daly, 2022. "Resolute and Mindful: The Path to Price Stability," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, vol. 2022(23), pages 1-6, November.

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