The move comes as the central bank unveiled its latest stress tests
The U.S. central bank says it will also keep buying bonds
Chairman Jerome Powell isn't expected to announce major new initiatives Wednesday
More than one in 10 workers have lost their jobs to the coronavirus outbreak
The program will let central banks sell Treasurys to the Fed with an agreement to buy them back the next day
The central bank says it will establish three new lending facilities as well
Facility aims to ensure funds can meet increased redemption demands
Extraordinary policy actions give banks and markets time to adjust to the pandemic's effects
The spread of the coronavirus prompted the Fed to cut rates in an emergency move
But it's unclear how a rate cut would counteract the effects of the coronavirus