U.S. Banks Borrow $165 Billion From the Fed in a Week
The successive collapse of well-established financial institutions in the U.S. managed to instill fear among depositors and investors. At the moment, companies with their toes immersed in the banking space continue to experience funding strains. As a result, they’ve started leaning on the Fed eral Reserve for support. According to data published by the Fed , U.S. banks have borrowed a total sum of $164.8 billion from two Fed eral Reserve backstop facilities over the past week. JUST IN: US banks borrowed $164.8 billion from the Fed eral Reserve over the past week, a new record. — Watcher.Guru (@WatcherGuru) March 16, 2023 Also Read: First Republic Bank to get $30 Billion in Deposits From JP Morgan, Bank of America, Wells Fargo, and More Borrowings escalate to record highs As far as the breakdown is concerned, $152.85 billion was borrowed via the discount window or the traditional liquidity backstop for banks. The figure marked a new record high. For context, banks tog...
