Fed Releases Historical Discount Window Data From Financial
The Federal Reserve disclosed today which banks borrowed from its discount window and how much, during the period from August of 2007 to March of 2010.Finding out the exact names and numbers will take some time, as the Fed released 894 individual PDF files totaling over 25,000 pages.The lending peaked at $111 billion on October 29th, 2008, as credit markets nearly froze in the wake of the bankruptcy of Lehman Brothers.In the Fed's nearly 100-year history, the central bank has never before released data relating to the discount window. The discount window is the bank's oldest lending facility, having existed since 1914, making it nearly as old as the Federal Reserve itself.As part of the Dodd-Frank Financial Reform Act, the bank will now have to disclose all lending that occurs through the discount window with a two-year lag. The Act, signed into law last July 21st, was not retroactive, however.The Fed was forced to release the data after Bloomberg News, among others, brought a Freedom
Credit: Financial News Network
Published by Grab Networks
A resource for website publishers who want to embed quality, licensed content on a wide variety of topics. View profile
