Top Tweets for #DiscountWindow
#Fed #Reserve Management Revisited https://t.co/EvnJzIIPfZ #FRB #FOMC #ReserveDemand #BalanceSheet #AmpleReserves #ScarceReserves #Fedwire #PaymentSystem #LCR #IORB #SOFR #Repo #IntradayLiquidity #DiscountWindow #MonetaryPolicy #InterestRateVolatility
Fed Vice Chair Bowman Rejects Core Aspects of Unconventional Monetary Policy
#FOMC #FSOC #FederalReserve #monetarypolicy #FRBNY #SRF #DiscountWindow #ForwardGuidance #QE #MBS
https://t.co/CIrx7DyZEa
@josephwang
The #DiscountWindow should be a lifeline during financial stress, but too many banks are unprepared or unwilling to use it. @federalreserve must require banks to meet minimum standards for access and address the stigma to protect the financial system.
https://t.co/BtYSFxAGvM
Erste Versuche, die Nutzung des #DiscountWindow (neuer letzter ⚓️ notleidender Banken) zu normalisieren
"Wir versuchen, die Sichtweise zu ändern, die, wie ich weiß, viele Institutionen hinsichtlich der Stigmatisierung des Discount Window haben werden“
L. White, Richmond Fed
“We are trying to shift the perspective that I know many institutions will have about the discount window stigma” – Lisa White, Richmond Fed https://t.co/QQNGTeVeV0
@RufasKe Rufas stop fear mongering.
Recently banks elsewhere have gone down for such. Stigma of accessing the #discountwindow where they daren't touch these funds.
A #CB plays the role lender of last result and in some countries histories even the 1st!
https://t.co/BOCxyBRCOw
BTFP-type support will continue so fiscal dominance will continue.
#DiscountWindow
#QuasiFiscalDeficits
The Are Propping Up A DE@D System! And This WILL END VERY BADLY... Important Updates. Mannarino https://t.co/3MZ3qIKiHc #DalioWarns #DebtMarket #US10Y #DXY #stocks #markets #Fed #rates #CentralBanks #Inflation #DiscountWindow #CommercialBanks #Repo #Illiquidity #BankCollapse #NWO
@RufasKe @ehdande They know they should be cutting rates but WON'T come out publicly with it & hence this "sneaky" solution.
#DiscountWindow is now +400 basis pts above #CBR instead of +600 and ...
A "corridor" on #interbank of plus or minus 2.5% of #CBR for OMO.
https://t.co/MylBB20DiY
Press Release - Enhancing Monetary Policy Transmission Through DhowCSD, Interest Rate Corridor and Improved Access to the Discount (Overnight) Window
📉 The #FED silently persists with its #QT policy, bringing the #balancesheet back to pre-#SVB levels. Remember when the #BTFP and #discountwindow fueled the investor frenzy in March?
@AyeshaTariq @AyeshaTariq totally agree the #FED will continue to tighten even into a #recession. #financialstability will be addressed with special programs #BTFP #discountwindow not with lower #FED #fundrates.
#higherforlonger is the real narrative for 2023 and beyond...
The #Discountwindow and the #BTFP have allowed banks to buy time as they have been able to see their Cash Reserve to total assets improving.
#Higherforlonger #FED Fund Rate makes more #outflows of #deposits inevitable.
#Banks are sometimes reluctant to borrow at #discountwindow b/c, if word gets out, it may suggest that the #bank is in trouble. Borrowing at the #discountwindow soared from $4.6bn on March 9 to $152.9bn on March 15, chart @BrookingsInst https://t.co/NKmt2MGVYy
Sneaky...
So let's see, Fed/Treasury offered up #BTFP, also the #DiscountWindow AND #FHLSB just in case.
But it's only an isolated bank run. 🫤
Lender of Next to Last Resort Headline Alert:
“Federal Home Loan Bank System issued $304 billion in debt last week, according to a person familiar with the matter, who asked not to be identified discussing non-public data. That’s almost double the $165 billion that liquidity-hungry lenders tapped from the Federal Reserve.
The FHLBs are a Depression-era backstop originally created to boost mortgage lending. The system, now a key source of cash for regional banks, is known as the “lender of next-to-last resort” — a play on the nickname for the Federal Reserve’s discount window.”
While the FED balance sheet has expanded last week, this expansion is mostly linked to the $152 billion banks borrowed from the #discountwindow.
The #discountwindow jump crashed through the prior record of $112bn in the fall of 2008, during the most acute phase of the financial crisis GFC.
#Banks took an all-time high $152.9bn from #Fed 's traditional lender-of-last resort facility known as the #discountwindow as of Wed., while also taking $11.9bn in loans from Fed 's newly created #Bank Term Lending Program, chart @ReutersBiz https://t.co/dA8V7STy4N
In the week ended March 15, borrowings under the #FED's #liquidity facility, the #DiscountWindow, exploded to $152.85 billion, a record $148 billion weekly jump to an all-time high which surpassed even the borrowings during the #GFC.
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