Federal Reserve Lending Programs: Main Street Program Continues to Hold Outstanding Loans Beyond Initial Maturity Dates
What GAO Found In response to the COVID-19 pandemic, the Board of Governors of the Federal Reserve System authorized 13 emergency lending programs—with lending facilities to implement the programs—to ensure the flow of credit across the economy. To improve oversight of these programs, the Federal Reserve evaluated program internal processes and controls and identified 20 opportunities to enhance internal controls. GAO found that Federal Reserve Banks, which manage the facilities, have implemented processes to address all 20 opportunities. In addition, the Federal Reserve has completed its review of all 20 opportunities. GAO also found that the Federal Reserve’s plans for ongoing monitoring..
Reported by Maria LopezFederal Reserve Lending Programs: Main Street Program Continues to Hold Outstanding Loans Beyond Initial Maturity Dates.
The item is dated Wed, 17 Jun 2026 07:47:15 -0400.
TeamCog is carrying it as a audits report from GAO reports and testimonies RSS.
What GAO Found In response to the COVID-19 pandemic, the Board of Governors of the Federal Reserve System authorized 13 emergency lending programs—with lending facilities to implement the programs—to ensure the flow of credit across the economy.
To improve oversight of these programs, the Federal Reserve evaluated program internal processes and controls and identified 20 opportunities to enhance internal controls.
GAO found that Federal Reserve Banks, which manage the facilities, have implemented processes to address all 20 opportunities.
In addition, the Federal Reserve has completed its review of all 20 opportunities.
GAO also found that the Federal Reserve’s plans for ongoing monitoring…
Official Source
GAO reports and testimonies RSS. Accessed 2026-06-17T15:00:19.736Z.