Fed says credit to wind down failed banks drops again in latest week
FILE PHOTO: An eagle tops the U.S. Federal Reserve building’s facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst/File Photo
FED
+0.82%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
NEW YORK (Reuters) — The Federal Reserve said on Thursday that credit it has extended to help wind down failed banks marked a big drop in the latest week.
The Fed reported what it calls «other credit» fell to $63.07 billion on Wednesday, from $81.9 billion on Sept. 27. The credit is being used by the Federal Deposit Insurance Corporation to deal with bank failures from the spring.
This type of credit stood at zero at the start of March, peaked at $228.2 billion on May 3, and has been falling by a notable amount since the middle of September.
