Fed Emergency Lending to Banks Continues Amid Concerns for Credit Unions and Community Banks.
TL;DR Summary
US banks continue to draw on the Federal Reserve's backstop facilities, with outstanding borrowings totaling $163.9 billion in the week through March 22. The Fed's traditional backstop lending program, known as the discount window, saw $110.2 billion in borrowing, while the Bank Term Funding Program had $53.7 billion in outstanding borrowings. The Fed loans to bridge banks established by the Federal Deposit Insurance Corp. to resolve SVB and Signature Bank rose to $179.8 billion from $142.8 billion the previous week. Funding markets had been showing signs of stress, though pressures have subsided with the take-up of emergency measures.
- Banks Are Still Drawing on the Fed for $164 Billion of Emergency Cash Yahoo Finance
- Banks ramp up use of new Fed facility created during crisis CNBC
- Emergency borrowing from Fed dips, a sign that bank stress may be easing MarketWatch
- Fed emergency lending to banks boosted overall Fed holdings in latest week Reuters
- Credit unions and community banks worry Fed moves will squeeze their customers The Philadelphia Inquirer
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