WASHINGTON— The Federal Reserve is allowing more companies to take part in a program aimed at bolstering the money market mutual fund industry.

The Fed said newly eligible participants now include a range of money market investors, rather than just money market funds. The program is used to support an initiative designed to provide liquidity, or cash, to the money market industry.

The Fed backs purchases of short-term debt, including certificates of deposit and commercial paper that expire in three months or less, from money market mutual funds.