Most banks took the more traditional route, using the Fed's discount window under terms slightly less favorable, with borrowing rising by $148.2 billion for the week. The discount window provides loans of up to just 90 days, while the BTFP term is for one year. However, the Fed eased conditions at the discount window to make it more attractive for borrowers in need of operating funds.
There also was a large uptick in bridge loans, also done over short terms, totaling $142.8 billion, made primarily to now-shuttered institutions so they could meet obligations regarding depositors and other expenses. The data comes just days after regulators shut Silicon Valley Bank and Signature Bank, two institutions favored by the high-tech community.
With fears high that customers who exceeded the $250,000 Federal Deposit Insurance Corp. guarantee could lose their money, regulators stepped in to back all deposits. The programs ramped up the totals on the Fed balance sheet, escalating the total by some $297 billion.
Mike Santoli is more than 18Million to 30 million $ richer for F’in the investors who took the savings & loans money Again. 1985! And the attempt to kill in the process
Cramer says “Buy, Buy, Buy”!!!