The U.S. banking crisis appears far from over as the Fed’s emergency loan facility hits a new weekly high in efforts to bail out struggling banks.
The American central bank’s emergency fund for embattled banks has seen its highest level of distressed asset redemptions since its inception three months ago.— was introduced in March amid the United States banking crisis which saw the collapse of Silicon Valley Bank, among others. The fund essentially is aimed at backstopping banks and other depository firms.
According to data from the Federal Reserve Bank of St. Louis, the Fed's Bank Term Funding Program has reached a recordThe milestone figure means that the Fed is still bailing out banks despite its attempts to reassure investors that the banking crisis is over. Market analyst Joe Consorti also opined on the latest figures, claiming that the “Fed's shadow liquidity is propping up risk-taking behavior across markets.”
This may encourage investors to take larger risks as evidenced by increases in stock markets such as the S&P 500, he said.No surprise, as usage of BTFP rises the S&P 500 rises too.
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