Fed’s Barr Signals Emergency Loan Program Won’t Be Extended

 

• Vice chair says that he expects use to continue until March 11
• Fed’s Bank Term Funding Program set up in regional bank crisis

The Federal Reserve’s top bank watchdog signaled that the central bank is unlikely to extend an emergency loan program that it started last year during the regional banking crisis.

Michael Barr, the Fed’s vice chair for supervision, said during an event in Washington that the Fed’s Bank Term Funding Program had functioned as intended to ease stress in the financial system. The temporary program is set to expire on March 11.

https://www.bloomberg.com/news/articles/2024-01-09/fed-s-barr-signals-that-emergency-loan-program-won-t-be-extended