- The Bank Term Funding Program (BTFP, bail out/QE) had approximately $75.8 billion in outstanding loans as of Wednesday this week, down from $81.3 billion (- $5.5 billion) a week ago.
- The “other credit extensions” line item of $228.2 billion includes the FDIC loans made to regional banks (including FRC, see Fed note below). This figure is up from $170.4 billion (+ $57.8 billion) a week ago.
From the Fed: “On May 1, 2023, the California Department of Financial Protection and Innovation closed First Republic Bank and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. For purposes of the H.4.1, the Federal Reserve’s outstanding lending to First Republic Bank at the Discount Window and through the Bank Term Funding Program are now reflected in table 1 as “Other credit extensions”. The outstanding loans are being repaid from assets left behind in the receivership, proceeds of the purchase and assumption agreement between the FDIC and JPMorgan Chase Bank, National Association, and pursuant to an FDIC guarantee.”
FEDERAL RESERVE statistical release: https://www.federalreserve.gov/releases/h41/current/
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