Bank borrowing from the Fed climbs for 6th straight week

The amount of money banks borrowed from the Federal Reserve rose for the sixth week in a row and remained above $100 billion, indicating that the financial system is still suffering from a low but persistent level of stress.The Fed has been... The amount of money banks borrowed from the Federal Reserve rose for the sixth week in a row and remained above $100 billion, indicating that the financial system is still suffering from a low but persistent level of stress.

Most of the money the Fed has lent out has come from an emergency borrowing program set up in March after the collapse of Silicon Valley Bank. These loans edged up to $102 billion last week from $100.2 billion two weeks ago. Total borrowing from the Fed peaked at $164.8 billion in mid-March. The level of borrowing was just $15 billion before the recent spate of bank failures.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank stocks move lower after Fed eyes more rate hikes after June pauseBank stocks moved mostly lower in mixed trading on Wednesday after the U.S. Federal Reserve left interest rates unchanged as expected, but stressed that...
Source: MarketWatch - 🏆 3. / 97 Read more »

European Central Bank lifts rates after Fed takes a pauseThe European Central Bank on Thursday lifted interest rates by a quarter of a percentage point, as expected.
Source: MarketWatch - 🏆 3. / 97 Read more »

Goldman Sachs reportedly probed by Fed, SEC over Silicon Valley Bank collapseGoldman Sachs is being scrutinized for buying up Silicon Valley Bank’s debt while advising it to raise capital, according to a report.
Source: nypost - 🏆 91. / 67 Read more »