Banking Crisis: Fed Loans Surge as Regulators Face Scrutiny.
TL;DR Summary
Emergency loans to banks hit a new record of $153bn in the week through Wednesday, surpassing previous highs reached during the 2008 financial crisis, according to a weekly Federal Reserve report. The report sheds light on banks' demand for short-term cash in the early days of the fallout from the Silicon Valley Bank crisis. Banks also had $12 billion in credit from the Bank Term Funding Program, announced Sunday night, to make bank lending available on highly favourable terms.
Topics:business#banking-system#emergency-loans#federal-reserve#finance#signature-bank#silicon-valley-bank
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