{"id":2931,"date":"2008-02-20T11:28:22","date_gmt":"2008-02-20T17:28:22","guid":{"rendered":"http:\/\/karmalised.com\/?p=2931"},"modified":"2008-02-20T11:28:22","modified_gmt":"2008-02-20T17:28:22","slug":"us-banks-borrow-50bn-via-new-fed-facility","status":"publish","type":"post","link":"http:\/\/karmalised.com\/?p=2931","title":{"rendered":"US banks borrow $50bn via new Fed facility"},"content":{"rendered":"<p><strong>By Gillian Tett, <em>Financial Times<\/em>, <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/66db756a-de5d-11dc-9de3-0000779fd2ac.html?nclick_check=1\">18 February 2008<\/a><\/strong><\/p>\n<p>US banks have been quietly borrowing massive amounts of money from the Federal Reserve in recent weeks by using a new measure the Fed introduced two months ago to help ease the credit crunch.<\/p>\n<p>The use of the Fed\u2019s Term Auction Facility, which allows banks to borrow at relatively attractive rates against a wider range of their assets than previously permitted, saw borrowing of nearly $50bn of one-month funds from the Fed by mid-February.<\/p>\n<p>US officials say the trend shows that financial authorities have become far more adept at channelling liquidity into the banking system to alleviate financial stress, after failing to calm money markets last year.<\/p>\n<p>However, the move has sparked unease among some analysts about the stress developing in opaque corners of the US banking system and the banks\u2019 growing reliance on indirect forms of government support.<\/p>\n<p><strong>[<a href=\"http:\/\/www.ft.com\/cms\/s\/0\/66db756a-de5d-11dc-9de3-0000779fd2ac.html?nclick_check=1\">Read the report<\/a>]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Gillian Tett, Financial Times, 18 February 2008 US banks have been quietly borrowing massive amounts of money from the Federal Reserve in recent weeks by using a new measure the Fed introduced two months ago to help ease the &hellip; <a href=\"http:\/\/karmalised.com\/?p=2931\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-2931","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pdXTf-Lh","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/karmalised.com\/index.php?rest_route=\/wp\/v2\/posts\/2931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/karmalised.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/karmalised.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/karmalised.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/karmalised.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2931"}],"version-history":[{"count":0,"href":"http:\/\/karmalised.com\/index.php?rest_route=\/wp\/v2\/posts\/2931\/revisions"}],"wp:attachment":[{"href":"http:\/\/karmalised.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/karmalised.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2931"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/karmalised.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}