Economic Report
Financial institutions stabilize after SVB-tied turmoil
Banks have cut back on borrowing from the Federal Reserve as a recent strains on the U.S. financial system continue to ease.
AFP via Getty Images
The numbers: Banks trimmed borrowing from the Federal Reserve for the second week in a row, as stress in the financial system appeared to ease further almost a month after the surprising collapse of Silicon Valley Bank.
Financial institutions drew $149 billion in credit in the week ended April 5, based on the Fed’s weekly H.4.1. survey. That’s down from $154 billion last week and $164 billion two weeks ago.
Reduced…
