Banks increase borrowing from Fed for second week in a row


Banks in the U.S. increased borrowing from the Federal Reserve for the second week in a row, signaling that strains on the financial system haven’t gone away. Borrowing rose by $11.3 billion to $155.2 billion in the seven days ended April 26, up from $143.9 billion in the prior week, the Fed reported Thursday. A number of small to mid-sized banks have borrowed from an emergency program set up by the Fed to prevent failures and stabilize the U.S. financial system. The Fed created the new lending mechanism after the demise of Silicon Valley Bank in early March. The most recent data suggest lingering stress on the financial…

This article was originally published by Read the original article here.

Previous articleDow Jones Newswires: Remy Cointreau warns of sharp fall in revenue in fiscal first half 2024, then recovery
Next articleStocks are at their highs of the day entering the final hour of trading


Please enter your comment!
Please enter your name here