The US Federal Reserve System (FRS) has announced several programs aimed at providing immediate assistance to the market for its operation in the context of the coronavirus epidemic, CNBC reports.

Such tools of the American regulator’s policy as the further purchase of assets “to the extent necessary to maintain the smooth functioning of the market and the effective transfer of the monetary policy to wider financial and economic conditions” will help enterprises stay “on track.”

The FRS has foreseen the allocation of loans worth $300 billion to the main giants of American business and the creation of a loan fund secured by fixed assets. This measure is used exclusively during the financial crisis.

New measures include partial support for corporate and municipal bond markets. The FRS has promised that the purchase of treasury and mortgage bonds will be virtually unlimited. In the last week, the central bank announced plans to buy the first securities for $500 billion, and the second - for $200 billion. Now, the FRS intends to buy them for $375 billion and $250 billion, respectively, this week.

The FRS said in a statement that its priority is to take care of injured people and businesses and limit the further spread of the virus: “Even though the great uncertainty is remaining, it is clear that our economy will face serious shocks. Serious efforts must be made in the public and private sectors to limit the loss of workplaces and revenue and to facilitate the rapid recovery of the economy after the end of the crisis.”