Fed Emergency Bank Loans Soared As Money Market Inflows Continue To Surge
ZeroHedge – May 11, 2023 – Excerpts:
“This surge in money market fund inflows strongly suggests tomorrow’s H8 deposit report will show the bank run is accelerating…
Source: Bloomberg
This surge in money market fund inflows strongly suggests tomorrow’s H8 deposit report will show the bank run is accelerating.
..…..
The total size of the Fed’s backstopping facilities remained extremely high at around $305.4 billion…
Source: Bloomberg
But, more problematically, the demand for the Bank Term Funding Program surged by $8 billion to $83.1 billion – a new high…
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Away from the FDIC loans, The Fed has a total of $92.4 billion of loans outstanding to financial institutions through two backstop lending facilities in the week through May 10, dramatically higher than the $81.1 billion the previous week.
Tomorrow we get the big one – more answers after the bell when The Fed releases its H8 report on bank deposit flows and whether the seasonal-adjustments are total bullshit or not.”
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2008-2010, 2021-2022, and now again 2023 – The Fed continues their “backstop lending facilities”…. and taking America around in circles.
The banking system is unstable; Federal budget deficits are snowballing; Real wages for working Americans are stagnant; Stagflation is settling in on the U.S. economy; Entitlement programs are creating ever-greater dependence on government.
Washington Democrats continue their push for higher taxes and expanded social welfare programs, and adding regulatory burdens to America’s small businesses.
Washington Republicans have NO politically feasible, economically viable plan to generate federal budget surpluses, re-ignite (non-debt financed) economic growth, reduce citizens’ dependence on government; rejuvenate the banking sector; stabilize the U.S. Dollar; and restore financial security for America’s hard-working, tax-paying U.S. citizens.
Washington Republicans have NO PLAN to get America back on track.
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