Announcement
18 Dec 2020
In December 2020, the Federal Reserve allocated USD 21.6 million to purchase part of a commercial loan granted to Cinch Energy Services Llc the transaction was carried out under The Main Street Lending Program.
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Number of interventions
1
1 certainly harmful
0 likely harmful
0 liberalising
List of interventions
Implementation date
18 Dec 2020
Revocation date:
No revocation date
Updated: 18 Dec 2020
State loan
In force
On 18 December 2020, the Federal Reserve ('the Fed') purchased 95% of a loan granted to Cinch Energy Services Llc extended by Spirit of Texas Bank SSB. The Fed's financial stake in this loan was USD 2...
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