Fed loans, account guarantees helped stabilize 'deposit flows' at regional banks, Treasury official says
Publishing timestamp: 2023-03-17 18:11:36
Summary
The Federal Reserve's emergency loans to small and mid-sized banks helped stabilize withdrawals, but the markets have not fully priced in the federal aid or the $30 billion deposited into First Republic Bank. The actions taken by regulators have given institutions time to think about how they organize their businesses going forward. While trends are moving in the right direction, the amount of money borrowed from the Fed's discount window set a new record, suggesting that the banking sector is not yet stable. The Biden administration's goal is to protect depositors, but it is not yet a reality.
Sentiment: NEUTRAL
Keywords: congress, economy, breaking news: politics, white house, politics, business news, signature bank, united states, economic events, washington, first republic bank,