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.

No comments:

Post a Comment


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.