Today news
About the same in other media
Banks Leaned on a Little-Known Lender in March as Customers Fled
Reading now: 796
wsj.comBanks are turning to an obscure government-linked lender to shore up their balance sheets following the industry’s rockiest period in years.
The Federal Home Loan Bank system—established during the Great Depression to help promote mortgage lending and now a source of liquidity for banks of all stripes—issued a record $495 billion of debt in March to fund loans, which are called advances, the system’s Office of Finance said. Banks ramped up borrowing that month as customers pulled out deposits and investors panicked over failures that threw the stability of the U.S. financial system into question.
Read more on wsj.comAbout this in other media
US regional bank shares sink despite Fed calling banking system 'sound' cointelegraph.com /1 year ago
JPMorgan to acquire troubled First Republic Bank cointelegraph.com /1 year ago
Big banks including JPMorgan Chase, Bank of America asked for final bids on First Republic cnbc.com /1 year ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
