tag:blogger.com,1999:blog-319775530671726401.post4563627047242834095..comments2023-10-01T09:18:26.162-04:00Comments on Keith Leggett’s Credit Union Watch: CU Borrowings from Fed Discount Window in 2009Keith Leggetthttp://www.blogger.com/profile/14794334790117033547noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-319775530671726401.post-75893995046288133382011-06-10T05:34:57.608-04:002011-06-10T05:34:57.608-04:00Keith,
Just for the record, at the time SECU was ...Keith,<br /><br />Just for the record, at the time SECU was holding a $4-5 billion short term, perfectly liquid T-Bill portfolio .... So you mis-surmise that it was a liquidity issue for us!<br /><br />Check it out on our 5300 call reports...<br /><br />When you get to 2010 and the FED asked for institutions to cease using the facility, you'll note that SECU immediately stopped accessing the facility (while now holding a $5-6 billion T-bill portfolio) and has not "borrowed" since ....<br /><br />Won't make you ask.... It was part of a "least cost" strategy of managing our investment portfolio at the time... <br /><br />SECU historically - and presently - is a "wildly liquid" institution....that's just good "b-wording" - isn't it?! Jim Blaine, SECUJim Blainehttps://www.blogger.com/profile/15231738536629398905noreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-74205504029215555632011-06-09T16:24:32.500-04:002011-06-09T16:24:32.500-04:00I agree with you. It was a time of crisis and the...I agree with you. It was a time of crisis and there was a strong demand for liquidity. The Federal Reserve did exactly what it was suppose to do as a lender of last resort. <br /><br />I'm just trying to compile this information in an easy to use spreadsheet. <br /><br />When the Federal Reserve releases the 2010 info on borrowings from the discount window, I plan to post that information.Keith Leggettnoreply@blogger.comtag:blogger.com,1999:blog-319775530671726401.post-69468619944029656262011-06-09T16:12:52.231-04:002011-06-09T16:12:52.231-04:00And how many banks borrowed...and how much? It wa...And how many banks borrowed...and how much? It was a time of crisis, demand for cash was at an unprecidented demand. The discount window functioned exactly as it was supposed to. As an economist...sorry...Senior Economist, you should realize this. Looks to me like you want to throw stones from the balcony of your glass ABA house.Anonymousnoreply@blogger.com