Wednesday, October 30, 2013

Q3 2011 Discount Window Borrowings

According to data released by the Federal Reserve, 23 credit unions borrowed from the Discount Window in the third quarter of 2011. The total amount of borrowings during the quarter was $68.555 million. These credit unions went to the Discount Window an aggregate of 34 times.

Two credit unions from North Dakota accessed the seasonal credit program for a total of $12.718 million in loans. Seasonal credit is extended to relatively small depository institutions that have recurring intra-year fluctuations in funding needs, such as financial institutions that are serving agricultural communities.

The rest of the credit unions used the primary credit program, which is reserved for a financial institution in sound financial condition.

The most frequent borrowers during the quarter were Wright Patman Congressional FCU (VA), Tip of Tx FCU (TX), and North Star Community CU (ND). Each credit union visited the Discount Window three times. (Click on image to enlarge)

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2 comments:

  1. AnonymousOctober 30, 2013 at 12:52 PM

    I'm sure what your point is in publishing this information, but you understand that based on NCUA's new rule requiring credit unions $250 million in assets and over to have a contingency funding source includes a provision requiring the Fed discount window (or CLF) be tested by the end of 2014. Hence, this exhibit will become even less relevant.

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