Here is our weekly update on the Fed’s back door QE program, also known as the Bank Term Funding Program (BTFP), also known as a bank bailout program.

• The Bank Term Funding Program (BTFP, bail out/QE) had approximately $102.0 billion in outstanding loans as of Wednesday this week, down from $103.1 billion (- $1.1 billion) a week ago.
• The “other credit extensions” line item of $164.8 billion includes the FDIC loans made to regional banks. This figure is down from $168.3 billion (- $3.5 billion) a week ago.

FEDERAL RESERVE statistical release: https://www.federalreserve.gov/releases/h41/current/

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