Banks borrowed a combined $164.8 billion from two Federal Reserve backstop facilities in the most recent week, a sign of escalated funding strains in the aftermath of Silicon Valley Bank’s failure. The data also showed $11.9 billion in borrowing from the Fed’s new emergency backstop known as the Bank Term Funding Program, which was launched Sunday. Other credit extensions totaled …
India is setting up a fund worth ₹330 billion to provide liquidity to its corporate debt market during bouts of stress, to help stem panic selling and ease redemption pressures, an SBI Mutual Fund executive told Reuters. SBI Mutual Fund, a unit of India’s largest state-owned lender, State Bank of India, has been tasked with administrating the backstop fund, which …
