Monday, January 14, 2019

237 CUs Borrowed from Fed's Discount Window During Q4 of 2016

During the fourth quarter of 2016, 237 credit unions visited the Federal Reserve's Discount Window 272 times and borrowed an aggregate amount of almost $116.4 million.

In the previous quarter, 205 credit unions borrowed from the Discount Window. Total borrowings were nearly $201 million.

The average amount borrowed by credit unions during the fourth quarter of 2016 was $427,857. The median amount borrowed was $7,500.

The was majority of the credit unions borrowing from the Discount Window used the primary credit program, which is reserved for healthy credit unions. Two credit union borrowed from the secondary credit program. Two other credit unions used the seasonal credit program, which assists small depository institutions in managing significant seasonal swings in their loans and deposits.

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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