As part of its response to the global coronavirus pandemic, the Federal Reserve is launching a “Main Street Lending Program” to deliver up to $600 billion in credit to small and midsize firms. On a bonus episode of the ABA Banking Journal Podcast — sponsored by ProfitStars, a division of Jack Henry and Associates — two ABA experts provide an overview of the MSLP.

Among other topics, Hu Benton and Shaun Kern discuss:

• How MSLP, as a loan program with a degree of risk retention, differs from the Small Business Administration’s Paycheck Protection Program.
• This week’s changes to MSLP term sheets, including some advocated by ABA.
• Areas where ABA is recommending further changes, including on minimum loan sizes and on reference rate choice.

This episode is sponsored by ProfitStars, a division of Jack Henry and Associates.

Additional resources:

• ABA resources on the Main Street Lending Program.
• Federal Reserve FAQs on the MSLP.