Federal Reserve Board announces the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11 (watch AU/AG/DOW this week)

Federal Reserve ^ | 1/24/2024 | FED

[C210N]

The Federal Reserve Board on Wednesday [ed: Jan 24] announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11. The program will continue to make loans until that time and is available as an additional source of liquidity for eligible institutions.

During a period of stress last spring, the Bank Term Funding Program helped assure the stability of the banking system and provide support for the economy. After March 11, banks and other depository institutions will continue to have ready access to the discount window to meet liquidity needs.

As the program ends, the interest rate applicable to new BTFP loans has been adjusted such that the rate on new loans extended from now through program expiration will be no lower than the interest rate on reserve balances in effect on the day the loan is made. This rate adjustment ensures that the BTFP continues to support the goals of the program in the current interest rate environment. This change is effective immediately. All other terms of the program are unchanged.

The BTFP was established under Section 13(3) of the Federal Reserve Act, with approval of the Treasury Secretary.

[Revel]

All I know is that when I go to the bank these days. They barely have any employees. Maybe one teller open and a long line of people. No more than one person in all of those offices. Probably a mid sized banking chain. That tells me something is wrong.

[misanthrope]

BM

[C210N]

[Texas Fossil]

Thanks.

The bigger the government, the more corrupt.

[Theoria]

The knives of March.

[Lockbox]

I found the following: GESARA and NESARA, two proposed global financial reforms that aim to end poverty and corruption.

if that is true, those with one loose it and politicians take a cut. So unsure how these laws solve anything. Thanks for info, I’ll keep reading about your list.

[GOPJ]

Banks with $15.2 million to $110.2 million in transaction accounts must hold 3% in reserve. Large banks (those with more than $110.2 million in transaction accounts) must hold 10% in reserve. These reserves must be maintained in case depositors want to withdraw cash from their accounts. Google

Ten percent gives people fighting chance...

[GOPJ]

Thanks PAR... worth checking out.

https://banks.data.fdic.gov/bankfind-suite/financialreporting

[GOPJ]

Good advice - thanks C210N