{"id":1990173,"date":"2023-08-03T18:53:02","date_gmt":"2023-08-03T22:53:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/banks-keep-up-high-use-of-new-fed-lending-program-after-spring-turmoil\/"},"modified":"2023-08-03T18:54:14","modified_gmt":"2023-08-03T22:54:14","slug":"banks-keep-up-high-use-of-new-fed-lending-program-after-spring-turmoil","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/banks-keep-up-high-use-of-new-fed-lending-program-after-spring-turmoil\/","title":{"rendered":"Banks maintain high utilization of new Fed lending program post spring turmoil."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbanks-keep-up-high-use-of-new-fed-lending-program-after-spring-turmoil%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1990173&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>U.S. Banks Still Relying \u2062on Emergency Lending Facility<\/h2>\n<blockquote>\n<p>By Ann Saphir<\/p>\n<\/blockquote>\n<p>Months after a string of bank failures \u200bsent shockwaves through the global banking industry, U.S. banks are still heavily using an emergency lending facility set up by the Federal Reserve\u200b to help <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/banks-keep-up-high-use-of-new-fed-lending-program-after-spring-turmoil\/\" title=\"Banks maintain high utilization of new Fed lending program post spring turmoil.\">depository institutions\u2063 meet withdrawal demands<\/a>.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Fed loans via that new facility, the Bank Term Funding Program, ticked up \u2064to $105.7 billion\u2062 as of Wednesday, Fed \u2064data released on \u200bThursday showed, from $105.1 billion a week earlier. \u200d <\/p>\n<p>Borrowings at the Fed\u2019s \u200bdiscount window, by \u2062contrast, \u200cdeclined\u200d to $1.9\u200d billion from $2.2 billion the prior week. <\/p>\n<p>The discount window \u200cis\u200d the central bank\u2019s longstanding mechanism through\u2064 which\u2062 the Fed doles out emergency loans. Banks historically avoid using it for fear of being seen as weak or troubled, but the Fed recently began pushing more \u2062banks to sign \u200bup to it. <\/p>\n<p>A Fed survey of senior\u200d financial officers at nearly 100 banks released this week sheds some\u200d new light on the uptake for the new lending\u200d facility \u200cset up in March.<\/p>\n<p>The ability \u200cto\u200d borrow against collateral \u2064at face\u200b value, \u2063rather than at market value as under\u200d the discount \u2063window, was seen as the\u200b new program\u2019s strongest \u200bselling\u200c point, \u2062according \u200bto the May survey of 58 U.S.-headquartered banks and 34 U.S. \u2064branches of foreign\u200b banks.<\/p>\n<p>Some 22% of domestic banks had borrowed from \u200cthe program, and \u200danother 55% of banks had signed up or posted collateral to enable borrowing when needed, the\u2062 survey released\u200c on Tuesday said. <\/p>\n<p>Foreign banks were far less likely \u200dto use the new program,\u2063 with only 3% having borrowed, and\u2063 21% taking \u2064any steps to set up\u2062 for \u200dit, it found.<\/p>\n<p>More than\u2064 80% of\u200d all the banks surveyed said their view of the discount window had not\u2063 changed since the spring \u2062turmoil, which triggered \u2063a record\u200b $153 billion in discount-window borrowing. In the weeks following, banks\u200b gradually pared their discount window\u200d use and built\u200d up their loans from the new program. <\/p>\n<\/p>\n<p>  (Reporting by Ann \u200dSaphir; Editing by Chris Reese and Susan Heavey)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/banks-keep-up-high\/attachment\/federal-reserve-board-building-in-washington-2\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Devon Archer:\u2063 We Flew Too Close to the Sun\u200b as Business Partners<\/h3>\n<p>With the transcript from his closed-door testimony\u2062 being released today, there\u2062 is a lot\u2064 to unpack.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>House Oversight Committee\u200c Releases Hunter\u200b Biden&#8217;s \u2063Ex-Business Partner&#8217;s Transcript<\/h3>\n<p>Just days after giving\u200c his closed-door testimony, the House \u200cOversight Committee releases \u200cthe transcript.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Judge Tanya Chutkan Assigned\u200b to Donald Trump&#8217;s \u20642020 Election Challenge Case<\/h3>\n<p>Obama-appointed Judge Tanya Chutkan has been assigned to the 45th President Donald Trump&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oversight-committee-releases-closed-door-archer-transcript\/\" title=\"Oversight Committee unveils confidential Archer transcript.\">2020 election challenge \u2063case<\/a>.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Apple&#8217;s \u200cHigh-Yield Savings Account Surpasses $10 Billion in Customer\u200d Deposits<\/h3>\n<p>Apple&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-presidential-candidate-vivek-ramaswamy-sues-doj-over-trump-indictment\/\" title=\"Vivek Ramaswamy, GOP candidate, sues DOJ for Trump indictment.\">high-yield savings account\u200d offered<\/a> by its\u200c partner Goldman Sachs has \u200dreached over $10 billion in \u2063customer deposits.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Cognizant Technology Solutions\u2062 Forecasts Strong Third-Quarter Revenue<\/h3>\n<p>Cognizant Technology\u2063 Solutions\u200d forecast third-quarter revenue above estimates as more businesses turn to the IT services provider.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Equinix\u2063 Forecasts\u2062 Slower Third-Quarter Revenue Growth<\/h3>\n<p>Equinix forecast third-quarter\u200d revenue below market \u200bestimates, indicating a\u2064 slowdown in demand\u2062 for data centers.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Worldcoin Expands \u200cOperations to \u200cAttract\u200c More Users Globally<\/h3>\n<p>Worldcoin will expand its operations to sign up more users\u2062 globally.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>up significantly in the past week, reaching a total of $50 billion. This shows that U.S. banks continue to rely on the Federal Reserve&#8217;s emergency lending program to address liquidity needs caused by the recent bank failures.<\/p>\n","protected":false},"author":66,"featured_media":1990174,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1990173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1990173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1990173"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1990173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1990174"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1990173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1990173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1990173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}