Fed Discusses Easing Access to Discount Window to Help Banks

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Fed Discusses Easing Access to Discount Window to Help Banks

Bloomberg2023-03-13

(Bloomberg) -- The Federal Reserve is considering easing the terms of banks’ access to its discount window, giving firms a way to turn assets that have lost value into cash without the kind of losses ...

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Isabela
·2023-03-13
I don't need to convince people to invest and win, it's a choice to let go if you don't believe the processes due to bad experiences you had before with others. But it's better you know a lot of people are still getting profitable outcome from this platform through 👉Mr's Teresa Fuller
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Eddielkh
·2023-03-13
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The Fed declined to comment.Some banks began drawing on the discount window Friday, seeking to shore up liquidity after authorities seized SVB’s Silicon Valley Bank, people familiar with the situation said, the latest sign of mounting stress among the nation’s lenders. In doing so, banks were reaching beyond the so-called lender of second-to-last resort, the Federal Home Loan Bank System, which has seen a surge in borrowing over the past year.Unclear is how many banks did so. At least one would have normally used the New York FHLB. In a statement, the New York FHLB said it had experienced “heightened demand from our members as they reacted to a volatile market” but was able to honor borrowing requests made on Friday.The Fed currently has two lending programs under the discount window. 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