More detail on the path Fed funds (backed by Treasury) will take in the big corporate bailout

https://wallstreetonparade.com/2020/04/here-are-the-contracts-showing-how-4-5-trillion-in-stimulus-was-outsourced-to-wall-street/

 

from Fed to NY (or Boston) Fed to agent (like BlackRock) to SPV (run by Wall Street firms). This article does not indicate what fees are taken at each step.

 

Charlie Cooper