Bank Term Funding Program
The Bank Term Funding Program (BTFP) is a lending program in the United States. It was created by the Federal Reserve in March 2023.[1] The program is designed to safeguard institutions, following the collapse of Silicon Valley Bank and other bank failures.[2] The program offers loans of up to one year to eligible borrowers who pledge as collateral certain types of securities including U.S. Treasuries, agency debt, and mortgage-backed securities.[3]
References
- ^ Eisen, Ben (March 12, 2023). "Meet the BTFP, the Fed's 2023 Crisis Facility". The Wall Street Journal. Retrieved March 12, 2023.
- ^ Cox, Jeff (March 12, 2023). "U.S. government steps in and says people with funds deposited at SVB will be able to access their money". CNBC. Retrieved March 12, 2023.
- ^ Smith, Colby; Politi, James; Fontanella-Khan, James; Masters, Brooke (March 12, 2023). "Federal Reserve announces emergency lending facility to shore up US banks". Financial Times.