NY Fed says secondary market corporate credit facility (smccf) will begin purchases of exchange-traded funds on May 12
- says smccf may purchase US-listed TEFs whose investment objective is to provide broad exposure to the market for US corporate bonds
- says preponderance of ETF holdings will be of ETFs whose primary investment objective is exposure to US investment-grade corporate bonds
- says remainder ETF holdings will be in ETFs whose primary investment objective is exposure to US high-yield corporate bonds