Fed’s emergency loans to banks rise for first time in five weeks
US central bank had $143.9 billion of loans outstanding to financial institutions
Washington: Banks increased emergency borrowings from the Federal Reserve for the first time in five weeks, indicating that financial stresses are lingering after a string of bank collapses last month.
The US central bank had $143.9 billion of loans outstanding to financial institutions through two backstop lending facilities in the week through April 19, compared with $139.5 billion the previous week, according to data published Thursday.
The weekly Fed balance sheet data showed $69.9 billion of outstanding borrowing from the central bank’s traditional backstop lending program, known as the discount window, compared with $67.6 billion the previous week and the record $152.9 billion reached last month.