Here are the 10 companies set to benefit the most from the Fed's debt purchases

• The Federal Reserve plans to buy debt from nearly 800 companies, yet the top 10 beneficiaries are slated to make up 15% of the central bank's purchases.
• The Secondary Market Corporate Credit Facility pivoted from credit ETFs to individual bond purchases in mid-June and aims to track the broad corporate debt market.
• Here are the 10 firms with the largest planned weighting, according to the Fed's published Broad Market Index.
• Visit the Business Insider homepage for more stories.

The Federal Reserve's emergency bond-buying is slated to aid tech giants, automakers, and communications firms the most.

The central bank announced in late March it would begin buying corporate debt to boost market liquidity and lift firms through the coronavirus pandemic. The Secondary Market Corporate Credit Facility began by purchasing corporate-debt exchange-traded funds on May 12 and expanded the program in mid-June to include individual bond purchases.

In an effort to closely track the corporate debt market, the Fed plans to form an index of bonds through its SMCCF purchases. The forecasted purchase activity is already looking to mimic the market's consolidation. Of the nearly 800 companies the Fed plans to buy bonds from, the top 10 beneficiaries are set to make up about 15% of the purchases.

Here are the top 10 beneficiaries of the planned buying, according to the Fed's published Broad Market Index.

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10. BMW

Employees work on an off-road vehicle at the BMW plant in Spartanburg, USA, 28 March 2014.      Daniel Schnettler/Picture Alliance/Getty Images

Index weight: 1.25%

9. Comcast

Cindy Ord / Getty Images

Index weight: 1.32%

8. Ford

Sean Gallup/Getty Images

Index weight: 1.34%

7. General Electric

Mike Simons / Getty Images

Index weight: 1.48%

5 (tie). Verizon

Rob Kim/Contributor/Getty Images

Index weight: 1.60%

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5 (tie). Apple

Spencer Platt/Getty Images

Index weight: 1.60%

4. AT&T

A street is deserted at an At&T store in the Williamsburg neighborhood of Brooklyn during the coronavirus pandemic on May 7, 2020 in New York City.      Rob Kim/Getty Images

Index weight: 1.71%

3. Daimler

REUTERS/Laszlo Balogh

Index weight: 1.72%

1 (tie). Volkswagen

Volkswagen

Index weight: 1.74%

1 (tie). Toyota

A Toyota automaker employee moves an engine at the Toyota engine assembly line in Huntsville, Alabama November 13, 2009.      Reuters/Carlos Barria

Index weight: 1.74%

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