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  The growing role of nonbank financial institutions, or NBFIs, in U.S. financial markets is a transformational trend with implications for monetary policy and financial stability.
  
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Primary Dealer Credit Facility

As of March 31, 2021, the PDCF has expired. The materials and information on the web pages associated with this facility will remain available.

The latest Primary Dealer Credit Facility (PDCF) was established to support the credit needs of American households and businesses. It allowed primary dealers to support smooth market functioning and facilitate the availability of credit to businesses and households.

The PDCF offered overnight and term funding with maturities up to 90 days and was available on March 20, 2020. It remained available to primary dealers until March 31, 2021.

Announcements

Primary Dealer Credit Facility Transaction Specific Disclosures Pursuant to Section 11(s) of the Federal Reserve Act

March 31, 2022

Federal Reserve Board Confirms Upcoming Expiration Date for the PDCF

March 8, 2021

Federal Reserve Board announces extension through March 31, 2021, for several of its lending facilities that were generally scheduled to expire on or around December 31

November 30, 2020

Federal Reserve Board Announces an Extension through December 31 of its Lending Facilities that were Scheduled to Expire on or around September 30

July 28, 2020

Federal Reserve Board Announces Establishment of a Primary Dealer Credit Facility to Support the Credit Needs of Households and Businesses

March 17, 2020

Reporting

Aggregated Weekly Reporting
H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks.

Detailed Monthly Reporting
Reports filed by the Federal Reserve with Congress pursuant to section 13(3) of the Federal Reserve Act concerning the lending facilities.

Video: The Primary Dealer Credit Facility, Explained

Liberty Street Economics Blog

The Primary Dealer Credit Facility

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