Banks take out more loans from Fed in sign of lingering stress on financial system

MarketWatch/Jeffry Bartash/4-20-2023

“A bevy of mostly mid- to small-sized banks have borrowed heavily from the Fed through an emergency program set up after the failure of Silicon Valley Bank in March. The Fed set up the program to prevent further bank runs and stabilize the U.S. financial system.”

USAGOLD note: It’s not over until it’s over ……Many banks are sitting on large underwater positions in Treasuries. Bartash says the banks “may not be close to being in the clear.”