U.S. Fed preparing to buy new small business payroll loans

April 6 (Reuters) – The Federal Reserve and Treasury Department are planning to launch a new program to buy loans that financial firms make through the government’s emergency small-business lending program, the Wall Street Journal reported on Monday, citing people familiar with the matter.

The move would establish a secondary market for loans guaranteed by the Small Business Administration’s Payroll Protection Program, according to the report. (on.wsj.com/2whjMkH) (Reporting by Aishwarya Nair in Bengaluru; Editing by Shounak Dasgupta)