US Fed announces $25B in funding to backstop banks

US Fed announces $25B in funding to backstop banks

Hot on the heels of several United States bank collapses, the Federal Reserve has announced $25 billion worth of funding aimed at backstopping banks and other depository firms. The funds would ensure that “eligible banks” would have enough liquidity to cover the needs of their customers during times of turmoil. In a Mar. 12 statement, [...]