Paycheck Protection Program Liquidity Facility (PPPLF)

This report is for submitting PPP loan reduction payments and the matching PPPLF advance reduction. The lending Reserve Bank will reduce the PPPLF advance amount to ensure that the PPPLF advance amount does not exceed the outstanding amount of PPP loans pledged to secure the advance.

• Note:  Include all PPP loans pledged to secure a given PPPLF advance that have a balance.  Any PPP loan excluded from the loan list will be treated as paid off and the Reserve Bank will reduce your PPPLF advance accordingly.  For PPP loans that have been paid off entirely, you can either remove them from the loan list or update the current balance for those PPP loans to zero.

• Please watch the reduction report instruction video for a demonstration of the process for completing this report.

Effective September 18, 2020, this single reduction report form replaces the two forms (Transmittal Form for Reporting Reductions of Outstanding Principal Balance of Small Business Administration Paycheck Protection Program Loans Pledged to Secure Paycheck Protection Program Liquidity Facility Advances and the Paycheck Protection Program Individual Loan Listing Table) that were used starting in May 2020.

This form is used to pay off an advance in full prior to maturity. This form is used when funds are no longer needed but collateral is not necessarily paid down or off.

A Paycheck Protection Program Individual Loan Reporting Table is NOT required to accompany this form. The PPPLF loan will be considered fully paid off and the associated maturity pool of collateral will be automatically withdrawn.

• Note: The origination date requested is the date of the PPPLF advance, not the origination date of underlying collateral pool.