The Federal Reserve Board plans to begin gradually selling a portfolio of corporate debt purchased through an emergency lending facility launched last year, as the COVID-19 pandemic was spreading panic through financial markets, Bloomberg News reported. “Portfolio sales will be gradual and orderly, and will aim to minimize the potential for any adverse impact on market functioning by taking into account daily liquidity and trading conditions for exchange traded funds and corporate bonds,” the Fed said in a statement on Wednesday. The New York Fed will provide additional details before sales begin, it added. There was around $13.7 billion outstanding in the Fed’s Secondary Market Corporate Credit Facility in a range of corporate bond and ETF holdings, according to balance sheet details updated last week.