Bank borrowing rises as Fed’s emergency bank bailout facility tops $100B
2023.06.08 17:25
© Reuters
Investing.com — Bank borrowing from the Federal Reserve’s emergency programs inched higher in the week ended Wednesday, with lending from the Fed’s emergency bank bailout facility topping $100 billion for the first time since April, the latest Fed data released Thursday showed.
Total borrowing from the Federal Reserve rose $5.7B to $103.3B in the week ended Jun. 8.
Banks borrowed an average of $3.17B from the Fed’s discount window, down from $3.97B a week earlier, the data showed.
Borrowing from the Fed’s Bank Term Funding Program, the emergency lending program that was launched in March following the collapse of Silicon Valley Bank – totaled $100.16B, up from $93.62B in the prior week.
Lending to the Federal Deposit Insurance Corporation, which took over the collapsed Silicon Valley Bank, fell to $185.16B from $188.09B in the prior week.
The rise in lending for the week increased the Fed’s balance sheet by $3.60B to $8.439 trillion.
