Magazine : Archives : 2nd Quarter 2023
Market Intelligence
Discount Window Borrowing Skyrockets The deposit run and closure of three midsized banks in March have led banks to tap “the lender of last resort” to offset any concerns about liquidity at their institution, according to data from the Federal Reserve. Banks across the country used the discount window to bolster their liquidity positions following deposit runs at three banks that contributed to their closure: Silvergate Capital Corp.’s Silvergate Bank, which had $11 billion in assets and was based in La Jolla, California; Santa Clara, California-based SVB Financial Group’s Silicon Valley Bank, which had $209 billion in assets; and $110...
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