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.

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