Federal Reserve Pumps 300 Billion Dollars Into Emergency Funds Amid Severe US Banking Crisis

US Bank Crisis Latest Update: America’s current banking crisis is not taking its name. This crisis, which started with the collapse of the Silicon Valley Bank, has so far engulfed many American banks. Not only this, but the effect of its transition is visible on the banking world in Europe as well. Experts say that the situation of many banks is serious and they can take the path of Silicon Valley Bank anytime. In the midst of all this, the US government and banking authorities have become active to reduce the impact of the crisis.

Cash problem in front of banks

Last week on Thursday i.e. March 16, the US Central Bank Federal Reserve told that it has given about $ 300 billion as emergency fund to many banks during about a week. The Central Bank told that many banks are facing the problem of cash crunch. In such a situation, these banks are reaching out to the Central Bank to ask for help.

Half the fund went to these two banks only

The Federal Reserve said that about half of this amount has been given as loans to the holding companies of the two major banks that have recently sunk. Silicon Valley Bank and Signature Bank are two major banks that have closed recently. The Federal Reserve has given a loan of $ 143 billion to the holding companies of these two banks as an emergency fund. However, the Fed did not tell to which banks the remaining amount has been given.

The flames of crisis reached Europe

Let us tell you that the authorities first closed the Silicon Valley Bank on 10 March. A few days later, Signature Bank also had to be closed. Credit Suisse, one of the oldest banks in Europe, also came under the grip of the banking crisis. Credit Suisse later received emergency help from the Swiss National Bank. However, still its crisis has not completely gone away.

Danger of drowning on dozens of banks

America’s current banking crisis is still not over. A few days ago, another American bank Western Pacific Bank also came under the grip of crisis. The bank is facing tremendous demand for cash from the customers, which is getting worse in meeting it. The news is telling that the next number may be of banks like Zion and Western Alliance. In some reports, it is being feared that dozens of American banks are in bad shape and they can collapse anytime.

read this also: If you also use ATM card, then know this thing, this feature is available for free

KVS Recruitment Result 2023 Out Check Through These Steps At Kvsangathan.nic.in

KVS Result 2023: The final provisional list for PRT Recruitment 2023 has been released by Kendriya Vidyalaya Sangathan. The candidates ...

Who Is Steve Harvey’s Wife? All About Marjorie Harvey

Steve Harvey knew Marjorie Harvey was the woman he was meant to marry. The pair met in 1990 at a ...

Tata Tech IPO IREDA IPO, Gandhar Oil IPO Flair IPO Listing Starts From 29 November On Stock Exchanges | IPO Listing Date: IREDA on 29th and 30th November

IPO Listing: Last week, five big companies including Tata Tech, IREDA raised money from the market through IPO. These five ...

Virat Kohli Most viewed Wikipedia pages worldwide during October and November Sports News

Most viewed Wikipedia pages: Recently, Team India had to face defeat against Australia in the World Cup final. But in ...

Taylor Swift flies to Kansas City after Brazil Eras Tour shows

Taylor Swift is back in Kansas City. After a rough round of Eras Tour shows in Brazil, the singer landed ...

Gautam Gambhir announces his best XI of ODI World Cup 2023, know the latest sports news here

Gautam Gambhir World Cup XI: Recently, Australia won the World Cup title by defeating Team India. In this way Australia ...

Adani Group Market Capitalization Soars 1 Lakh Crore Rupees In A Day After SC Reserves Order On Hindenberg Report

Adani Group Stocks: On Tuesday, November 28, 2023, there was a strong rise in the stocks of Adani Group. A ...

IND vs AUS 3rd T20 Live Updates India vs Australia Match Highlights Commentary Score Barsapara Stadium

India vs Australia 3rd T20: The second match of the five-match T20 series between India and Australia will be played ...

Sarah Jessica Parker, Matthew Broderick pose with three kids in rare selfie

And just like that, Sarah Jessica Parker’s family of five posed for a rare pic. The “Sex and the City” ...

Jofra Archer Mitchell Starc Gerald Coetzee Josh Hazlewood Lockie Ferguson Bowlers who can get big money in IPL auction

IPL Auction 2024: IPL Auction 2024 is to be held in Dubai on 19th December. Recently, IPL teams submitted the ...

Leave a Comment