All articles tagged with #federal home loan bank
Banks turned to the Federal Home Loan Bank system, a government-linked lender, to secure liquidity and shore up their balance sheets in March, when customers withdrew deposits and investors panicked over failures that threatened the stability of the US financial system. The system issued a record $495 billion of debt to fund loans, called advances, for banks of all stripes.
Global banks have had their worst week since 2008, with the collapses of Silicon Valley Bank and Signature Bank causing widespread fallout. Credit Suisse and First Republic also wobbled but remained upright through the week, with Credit Suisse announcing it will take up to $53.7 billion in support offered by the Swiss central bank to stay afloat. Meanwhile, Meta Platforms announced a shift in strategy towards artificial intelligence and cost-cutting measures, pleasing investors and causing shares to rise nearly 9%.