Federal Reserve's banking bailouts reach a new weekly high of $103B - The Fed’s emergency loan facility has reached new highs as embatt... - https://cointelegraph.com/news/federal-reserve-bank-bailout-fund-new-high #federalreserve #bankingcrisis #centralbank #bailout #banks #btfp

#Banks have shored up #liquidity by borrowing from FHLBs, #DiscountWindow and #BTFP , which has helped to maintain healthy market functioning even as #funding costs have risen somewhat, notes @GoldmanSachs

Fed announced Sunday additional funding will be made available through the creation of a new Bank Term Funding Program #BTFP, offering loans of up to 1 yr in length to banks, savings associations, credit unions, other eligible depository institutions pledging US #Treasuries, #AgencyDebt, #MortgageBacked #securities #MBS. These assets will be valued at par. BTFP will be an additional source of liquidity against high-quality securities https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312a.htm #FinancialCrisis2023 #SystemicRisk

For those interested in this kind of thing, this article explains the situation with SVB, the Fed, and the BTFP better than anything else I've seen.

https://www.bloomberg.com/opinion/articles/2023-03-13/svb-couldn-t-ignore-its-losses-but-the-fed-can

#SVB #BTFP #FederalReserve

#BTFP #Fed 's new term funding program - chart @BloombergTV

#Fed will introduce a new acronym, #BTFP, which stands for Bank Term Funding Program, for which $25bn is available. This will allow banks to borrow from the Fed using UST as #collateral and valuing them par, chart @johnauthers https://cutt.ly/E83X7ip