ZURICH (Finance) – The COVID-19 refinancing facility (CRF) to cover loan guarantees is being expanded by the Swiss National Bank. This is given by Switzerland’s regional governments.
The facility initially only covered loans granted by the Swiss federal government and will now be extended to loans guaranteed jointly by the government and cantons and loans for start-ups.
In March, SNB launched the CRF to provide banks with liquidity as they gave loans to businesses affected by the coronavirus downturn. Approximately 14.7 billion Swiss francs ($15.13 billion) has been granted to 123,000 Swiss companies so far.
(Photo syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.