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Banks Leaned on a Little-Known Lender in March as Customers Fled
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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.
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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
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