The numbers: The Federal Reserve said Thursday its emergency lending to banks rose to $92.4 billion in the week ended May 10 from $81.1 billion last week.
Bank borrowing from the Fed peaked at $164.8 billion in mid-March.
Key details: Bank loans from the Fed’s emergency Bank Term Funding Program totaled $83.1 billion, up from $75.8 billion in the prior week.
Banks borrowing from the Fed’s traditional discount window rose to $9.3 billion from $5.3 billion last week.
Big picture: The stress in the banking sector has not subsided even after JPMorgan’s purchase of First Republic Bank. Other regional banks such as PacWest
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At the same time as it makes emergency loans, the Fed has been trying to shrink its balance sheet after it expanding sharply during the pandemic.
In the latest week, the Fed’s balance sheet shrank by $977 million to $8.5 trillion.
Market reaction: The yield on the 10-year Treasury note
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