Weekly Update: Bank Term Funding Program

The BTFP stopped extending new loans on March 11th. We would expect the Fed’s Discount window Primary credit balance to increase in the coming weeks should certain banks face liquidity issues which is likely to happen should yields remain elevated.

Here is this week’s BTFP activity:

• The Bank Term Funding Program (BTFP, bail out/QE) had approximately $167.5 billion in outstanding loans as of Wednesday this week compared to $164.0 billion a week ago.

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