As of Wednesday, financial institutions were lent almost $108 billion from the Fed's Bank Term Funding Program, according to data from the central bank.
Financial institutions are increasingly taking advantage of an emergency program created by the Federal Reserve in March after the collapse of California’s Silicon Valley Bank.
The Fed’s BTFP was created in March as a way to ensure institutions would be able to meet the needs of their depositors, and offers loans of up to one year in exchange for collateral such as Treasurys, plus agency and mortgage-backed securities. The program is intended to eliminate a financial institution’s need to rapidly sell securities, and is open to federally insured banks, savings associations, and credit unions, as well as the U.S. branches of foreign banks.
Now, banks’ use of the emergency BTFP facility “has been creeping up over time” because it offers relatively attractive financing when compared with the Fed’s discount window, said Thomas Simons, a U.S. economist at Jefferies JEF, +1.02%.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
New York Fed's Empire State factory gauge rebounds in SeptemberThe New York Fed’s Empire State business conditions index rose 21 points in September to 1.9, the regional Fed bank said Friday.
Leer más »
![– Fed, BoE, and BoJ meetings to fuel FX volatility [Video]](https://i.headtopics.com/images/2023/9/15/fxstreetnews/fed-boe-and-boj-meetings-to-fuel-fx-volatility-vid-fed-boe-and-boj-meetings-to-fuel-fx-volatility-vid-F8D8BE835E2AF12D05718EDA4F86F65D.webp?w=640)
– Fed, BoE, and BoJ meetings to fuel FX volatility [Video]Fed - mind the dots The central bank bonanza will kick off with the Fed on Wednesday. Markets are pricing in almost no chance of a rate increase, foll
Leer más »
Tech stocks rise after inflation report as investors look to Fed meeting By Investing.comTech stocks rise after inflation report as investors look to Fed meeting
Leer más »
Tucson High temporarily placed on lockdown after multiple fights on campus WednesdayTucson High School was placed on a hard lockdown Wednesday morning as a result of 'multiple fights,' according to Tucson Police Department.
Leer más »
Wednesday's TransactionsBASEBALL Major League Baseball American League BALTIMORE ORIOLES — Recalled LHP Nick Vespi from Norfolk (IL). Optioned LHP Cole Irvin to Norfolk.
Leer más »
Bryan Kohberger's hearing Wednesday could determine limitations on media in runup to trialBryan Kohberger, the man accused of killing four University of Idaho students last November, will be in court again on Wednesday.
Leer más »