"Banking Crisis Looms as First Republic Takeover Limits Emergency Lending"

Borrowing from the Federal Reserve's discount window and Bank Term Funding Program dropped significantly after the FDIC takeover and sale of First Republic Bank to JPMorgan Chase. The decline in bank borrowing comes amid another rough week for regional banks, with stocks losing value to their lowest levels since 2020. The FDIC is providing $228.2 billion in lending for Silicon Valley Bank, Signature Bank, and First Republic takeovers. The Bank Term Funding Program was created after the Silicon Valley Bank failure and the takeover of Signature Bank by the Fed to give other institutions better terms than the traditional “discount window” borrowing.