Falcon Square Capital Added by the Federal Reserve Bank of New York as a Counterparty for the Secondary Market Corporate Credit Facility

RALEIGH, N.C.--(BUSINESS WIRE)--Falcon Square Capital, LLC, a FINRA-registered broker/dealer and Women-Owned Business Enterprise is pleased to announce that the New York Fed has added Falcon Square Capital as a counterparty to the Secondary Market Corporate Credit Facility (SMCCF).

"Falcon Square Capital is honored to be added as an SMCCF counterparty by the New York Fed to participate in providing additional liquidity for bonds purchased through the secondary credit facility. The strength of Falcon Square Capital's institutional fixed income relationships will be beneficial for the SMCCF program and participants," said Falcon Square Capital CEO Melissa P. Hoots.

The SMCCF, which was announced on March 23, 2020, supported market liquidity for corporate debt by purchasing corporate bonds and exchange-traded funds (ETFs) in the secondary market through the date of its closure on December 31, 2020. The SMCCF began sales of its holdings of corporate bond ETFs on June 7, 2021 and of its holdings of corporate bonds on July 12, 2021. Subject to market conditions, the SMCCF expects to complete the sale of its holdings by the end of 2021.