BBUS, page-13857

https://www.washingtonpost.com/us-policy/2023/03/12/silicon-valley-bank-deposits

The Federal Reserve announced that it was creating a lending facility for the nation’s banks, designed to buttress them against financial risks caused by Friday’s collapse of SVB.Fed officials declined to provide a specific figure for the size of that new loan program, but made clear it would be large enough to cover trillions of dollars in potential requests.
The new Fed program will enable
banks to pledge U.S. Treasuries and other safe government securities as collateral in return for loans of up to one year from the central bank.
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The benchmark US 10-year Treasury yield fell to a five-week low of 3.5% and the 2-year yield lost nearly 18bps to 4.41%, the largest three-day slump since 1987.