Banks and thrifts borrowed $53 billion in advances from their Federal Home Loan Banks in September, down from $110 billion in August at the height of the credit crunch.Members of the Boston FHLBank borrowed $13.3 billion in advances last month. The New York FHLBank reported that its advances were up $8 billion, and the Cincinnati FHLBank experienced a $1.8 billion increase in advances. The heaviest borrowing activity is expected to be at the San Francisco FHLBank, which made $53 billion in advances during July and August. However, a spokeswoman for the bank said it does not plan to disclose the September advances until it reports third-quarter results. As of Sept. 30, the 12 FHLBanks held $822 billion in advances, up 28.4% from the level recorded as of June 30. Demand for advances was relatively flat during the first six months of the year.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
April 19 -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
April 19 -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
April 19 -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
April 19 -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
April 19 -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18