Banks borrow $164.8 billion from US Fed in rush to backstop liquidity

The data also showed $11.9 billion in borrowing from the Fed's new emergency backstop known as the Bank Term Funding Program, which was launched Sunday

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US Fed Reserve, Fed Reserve

Photo: Bloomberg

Banks borrowed a combined $164.8 billion from two Federal Reserve backstop facilities in the most recent week, a sign of escalated funding strains in the aftermath of Silicon Valley Bank’s failure. Da

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First Published: Mar 17 2023 | 8:22 AM IST

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