Fed May Mothball ‘Hot Topic’ Bank Backstop In March

The curtain will probably close in a few months on the bank backstop the Fed established in the wake of SVB's dramatic implosion. Or at least according to some observers. Over the past several weeks, reader interest in Bank Term Funding Program balances was piqued by a steady increase in loans outstanding as reported each week by the Fed. I should quickly note that "piqued" is a relative term. The BTFP discussion is esoteric. That's not to suggest it isn't important or relevant, but anything t