Treasury's Fed funding clawback will not 'hamstring' next administration-official
WASHINGTON, Nov 20 (Reuters) - U.S. Treasury Secretary Steven Mnuchin's decision to claw back funds from Federal Reserve coronavirus lending programs will not "hamstring" the next Treasury secretary because the move will leave $600 billion in cash that could quickly aid workers and businesses, a senior Treasury official said on Friday.
The official told Reuters in a phone interview that the Fed facilities will not be dissolved, and can be quickly recapitalized to a lending capacity of $750 billion to $800 billion with funds from Treasury's Depression-era Exchange Stabilization Fund. (Reporting by David Lawder)