{"id":437,"date":"2023-03-14T12:57:22","date_gmt":"2023-03-14T16:57:22","guid":{"rendered":"https:\/\/blogs.duanemorris.com\/bankinglaw\/?p=437"},"modified":"2023-03-14T12:57:22","modified_gmt":"2023-03-14T16:57:22","slug":"the-fed-creates-new-program-to-make-sure-banks-can-fufil-depositors-needs","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/bankinglaw\/2023\/03\/14\/the-fed-creates-new-program-to-make-sure-banks-can-fufil-depositors-needs\/","title":{"rendered":"The Fed Creates New Program to Make Sure Banks Can Fufil Depositors&#8217; Needs"},"content":{"rendered":"<p>In the wake of the failures of Silicon Valley Bank and Signature Bank, on March 12, 2023, the Federal Reserve Board\u00a0<a href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20230312a.htm\" target=\"_blank\" rel=\"noopener\">announced<\/a>\u00a0that it will make available additional funding to eligible depository institutions to help assure that banks have the ability to meet the needs of all their depositors. The new lending program, called the\u00a0<a href=\"https:\/\/www.federalreserve.gov\/monetarypolicy\/bank-term-funding-program.htm\" target=\"_blank\" rel=\"noopener\">Bank Term Funding Program<\/a>\u00a0(BTFP), is effective March 13, 2023. The BTFP offers recourse loans with maturity dates of up to one year to borrowers including banks, savings associations, credit unions and other eligible depository institutions.<\/p>\n<p>To read the full\u00a0<em>Alert<\/em>, visit the <a href=\"https:\/\/www.duanemorris.com\/alerts\/federal_reserve_announces_loan_program_assure_banks_have_ability_meet_needs_depositor_0323.html\">Duane Morris LLP website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the wake of the failures of Silicon Valley Bank and Signature Bank, on March 12, 2023, the Federal Reserve Board\u00a0announced\u00a0that it will make available additional funding to eligible depository institutions to help assure that banks have the ability to meet the needs of all their depositors. The new lending program, called the\u00a0Bank Term Funding &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/bankinglaw\/2023\/03\/14\/the-fed-creates-new-program-to-make-sure-banks-can-fufil-depositors-needs\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Fed Creates New Program to Make Sure Banks Can Fufil Depositors&#8217; Needs&#8221;<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[466,157,180,226],"ppma_author":[333],"class_list":["post-437","post","type-post","status-publish","format-standard","hentry","category-general","tag-depositors","tag-federal-reserve","tag-jon-petrakis","tag-loans"],"authors":[{"term_id":333,"user_id":6,"is_guest":0,"slug":"duanemorris3","display_name":"Duane Morris","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/843ff6e7a8fe5fc92109b47a45f34b6cf0ea499e6e788db23456c838b0ae6747?s=96&d=blank&r=g","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/posts\/437","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/comments?post=437"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/posts\/437\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/media?parent=437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/categories?post=437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/tags?post=437"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/ppma_author?post=437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}