Federal Reserve's banking bailouts reach a new weekly high of $103B | Keyword Financial

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Federal Reserve's banking bailouts reach a new weekly high of $103B

June 29. 2023

By Martin Young

The Fed’s emergency loan facility has reached new highs as embattled banks are needing a central bank bailout.

The American central bank’s emergency fund for embattled banks has seen its highest level of distressed asset redemptions since its inception three months ago.

The emergency lending program — known as the Bank Term Funding Program (BTFP) — was introduced in March amid the United States banking crisis which saw the collapse of Silicon Valley Bank, among others. The fund essentially is aimed at backstopping banks and other depository firms.

According to data from the Federal Reserve Bank of St. Louis, the Fed's Bank Term Funding Program (BTFP) has reached a record level of $103.08 billion in loans for the week ending June 28.

The milestone figure means that the Fed is still bailing out banks despite its attempts to reassure investors that the banking crisis is over.

Market analyst Joe Consorti also opined on the latest figures, claiming that the “Fed's shadow liquidity is propping up risk-taking behavior across markets.”

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