Monday, April 10, 2017

118 CUs Borrowed from Fed's Discount Window in Q1 2015

The Federal Reserve is reporting that 118 credit unions borrowed almost $397.8 million from its Discount Window during the first quarter of 2015.

In comparison, 324 credit unions borrowed from the Federal Reserve's Discount Window in the fourth quarter of 2014.

The average amount borrowed by credit unions was $2.6 million. The median amount borrowed from the Discount Window was $100,000.

On sixteen separate occasions, credit unions borrowed at less $10 million from the Discount Window. Another 26 transactions involved borrowing between $1 million and $9.99 million.

The maximum amount borrowed from the Discount Window on a single day was $80 million by Visions Credit Union (Endicott, NY).

All credit unions, except for one, borrowed under the Federal Reserve's primary credit program, which is reserved for only well run credit unions.

The Federal Reserve is required by law to disclose with a two year delay information on borrowings from the Discount Window.



Posted by at
Labels: ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.