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ARTICLE · 04 APRIL 2023

What We're Reading This Week [March 24, 2023]

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On March 15th, CNN Business reported that the Federal Reserve has created a new rescue plan to prevent another SVB-like collapse from occurring. The new plan, titled the Bank Term...

United StatesFinance and Banking
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On March 15th, CNN Business reported that the Federal Reserve has created a new rescue plan to prevent another SVB-like collapse from occurring. The new plan, titled the Bank Term Lending Program (BTLP), allows financial institutions to borrow cash from the Federal Reserve for up to one year backed by bonds, mortgage-backed securities, and other similar types of bonds. Under the program, these bonds will be valued at par thereby allowing banks to access greater amounts of liquidity than selling such bonds in the open market would provide (given the interest rate environment and the population of bonds tied to fixed interest rates). The BTLP program will be backed by $25 billion from the US Treasury, with the hope of instilling confidence in the US banking system. Premarket stocks: The forgotten rescue plan that could prevent another SVB-like collapse | CNN Business

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