NEW YORK, May 15 (Reuters) - The Federal Reserve Bank of New York released more details about the Municipal Liquidity Facility, a tool announced last month to ease cash flow pressures for state and local governments struggling with reduced tax revenues because of the coronavirus pandemic.
The New York Fed released a Notice of Interest here for eligible issuers interested in selling notes to the special purpose vehicle, Municipal Liquidity Facility.
The Fed also said it designated BLX Group LLC to serve as the administrative agent and execute the facility. (Reporting by Jonnelle Marte, Editing by Franklin Paul)
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