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Keyword: feddiscountwindow

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  • Fed Kept Taps Open For Banks In Crisis (Libyan-owned bank borrowed 73 times)

    04/01/2011 6:25:39 AM PDT · by maggief · 196 replies
    Wall Street Journal ^ | April 1, 2011 | LIZ MOYER And DAVID BENOIT
    One of the biggest secrets of the financial crisis was disclosed Thursday when the Federal Reserve released thousands of pages of data showing heavy discount-window borrowing by foreign banks, regional U.S. banks and institutions fighting for survival. It was the first time the Fed has given details about banks that borrowed from the central bank's oldest emergency-lending facility. Thursday's move was forced by lawsuits filed by Bloomberg LP's Bloomberg News and News Corp.'s Fox Business Network, and last year's Dodd-Frank law requires the Fed to disclose future borrowings after a two-year lag. Details of other rescue programs by the Fed...