The following table provides information on credit unions that borrowed from the discount window. Information in the table includes the date of the loan, when the loan matured, the name of the borrower, how much was borrowed, type of credit, and the interest rate on the borrowing.
All institutions, except one, accessed the primary credit program. Primary credit is a lending program available to depository institutions that are in generally sound financial condition. An institution using the secondary credit program is not eligible to borrow from the primary credit program.
What is the point of this? Eligible financial institutions can borrow from the Federal Reserve. No big deal is made of banks who borrow. Why the big deal about credit unions? Have you nothing else to complain about??
ReplyDeleteDear Anonymous:
ReplyDeleteI'm not complaining. Just listing those credit unions that borrowed from the Federal Reserve.
Is there some reason you're showing 2012 data? Does the Fed disclose 2014 Q1 borrowings? Because NCUA requires the emergency liquidity source be tested annually, you will no doubt see increased activity in future quarters.
ReplyDeleteThere is a two year lag with regard to disclosures.
ReplyDelete