Key Lender to Regional Banks Raises $88.7 Billion Via Bonds
- Securities sale comes as US-banking sector concerns spread
- ‘This isn’t the normal size for sure’: Academy’s Burdette
This article is for subscribers only.
The US system of Federal Home Loan Banks is ramping up the amount of cash it has available to deploy as the failure of several US lenders — including Silicon Valley Bank and Signature Bank — stokes expectations that more regional lenders will need to tap it for funds.
The FHLB system, a key source of cash for regional lenders, raised $88.7 billion through the sale of short-term notes, according to people with knowledge of the matter, more than the $64 billion initially planned.