US banks tap $11.8 billion from new Fed facility

Fed set up Bank Term Funding Program in wake of Silicon Valley Bank’s collapse

Central banks and securities lending: A lever for monetary policy and liquidity management

The US Federal Reserve made loans of $11.8 billion by March 15 under its new new liquidity facility, the Bank Term Funding Program.

The Fed made the BTFP operational on March 12, in the wake of Silicon Valley Bank’s collapse. It published data on the programme’s first days on March 16.

The programme offers one-year loans to depository institutions that pledge high-quality assets as collateral.

The rate for term advances from the BTFP is the one-year overnight index swap rate plus an

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.