Banking Crisis: Fed Loans Surge as Regulators Face Scrutiny.
TL;DR
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:businessfinance#banking-system#emergency-loans#federal-reserve#finance#signature-bank#silicon-valley-bank
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- Banks take advantage of Fed crisis lending programs CNBC
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- Why did regulators ignore Dodd-Frank and orderly liquidation for failed banks? The Hill
- LARRY KUDLOW: The left-wing ideologues at the FDIC are still on their hands Fox Business
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