The Federal Reserve’s $103 billion bailout of banks reached a new high

Central issues:

For the week ending June 28, loans under the Bank Term Funding Program (BTFP) of the Federal Reserve reached a record amount of $103.08 billion.
The Fed is still bailing out banks, despite its efforts to reassure investors that the banking crisis is over, according to the milestone figure.
According to market analyst Joe Consorti, “Fed’s shadow liquidity is propping up risk-taking behavior across markets,” which may motivate investors to take on greater risks.

Fed’s Bank Term Funding Program (BTFP) was created in March of this year during the United States banking crisis, which led to the collapse of Silicon Valley Bank and other depository firms.

The point of the program is to fence banks and other storehouse firms during the emergency. For the week ending June 28, data from the Federal Reserve Bank of St. Louis show that the Fed’s Bank Term Funding Program (BTFP) has reached a record level of $103.08 billion in loans. Since the program’s launch three months ago, distressed asset redemptions have reached their highest level ever. The milestone figure demonstrates that the Federal Reserve is still rescuing banks, despite the central bank’s efforts to reassure investors that the banking crisis is over.

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According to market analyst Joe Consorti, “BTFP’s shadow liquidity is propping up risk-taking behavior across markets,” according to the most recent figures. As evidenced by the rises in stock markets like the S&P 500, this may encourage investors to take on greater risks. Consorti believes that the BTFP will need to set up a new facility to buy commercial mortgage-backed securities and other distressed real estate loans.

U.S. banking controllers have been requesting that moneylenders work with credit-commendable borrowers that are confronting pressure as business land loaning stays under tension. What’s more, the BTFP top has come around the same time that the Central bank reported its financial pressure test results, passing the main 23 moneylenders in the country. The record level of loans for the week ending June 28 is a clear indication that the program is still in high demand among embattled banks. It is unclear what further action the Fed will take regarding the ongoing banking crisis.

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Tags: federal reserve