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US Fed plans to wind down pandemic corporate credit facility ​ By IANS | ​ 0 Views   Large US banks have strong capital levels after 2nd round of stress test . Image Source: IANS News Washington, June 3 : The US Federal Reserve Board announced that it plans to begin winding down the portfolio of the Secondary Market Corporate Credit Facility (SMCCF), a temporary emergency lending facility launched during the Covid-19 pandemic last year. The SMCCF proved vital in restoring market functioning last year, supporting the availability of credit for large employers, and bolstering employment through the pandemic, the Fed said in a statement on Wednesday. SMCCF portfolio sales will be gradual and orderly, and will aim to minimize the potential for any adverse impact on market functioning by taking into account daily liquidity and trading conditions for exchange traded funds and corporate bonds, the Fed said, adding the Federal Reserve Bank of New York, which manages the

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