Requires the Fed to charge a premium to market rates (for emergency loans)
Stipulates that the Fed can only own paper (assets) that are backed up by the full fait of the US Government (Treasuries, etc.)
They circumvented this rule during the 2020 Covid crisis by setting up special purpose entities
Allows them to purchase anything they want - including corporate bonds, ETFs or even stocks
The legality of this wasn't clear (circa 20200
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