The Dhaka Times Desk Cash-strapped American banks borrowed $30 trillion from the Federal Reserve last week.
But almost half of this money went to two holding companies, which owned two banks that were closed by US authorities within a week. Citing the Associated Press, the British newspaper Guardian reported that data from the Federal Reserve said that the two holding companies of Silicon Valley Bank and Signature Bank had borrowed a total of 14,300 billion dollars.
The collapse of these two banks has also spread panic in the financial markets in different countries of the world. However, the Federal Reserve has not said anything about the remaining amount of 30 thousand billion dollars borrowed by any other bank or how many banks have borrowed money.
The Federal Deposit Insurance Corporation (FDIC) took over the responsibility of those two failed banks. The money borrowed by their holding companies was used to repay uninsured depositors. Bonds held by banks are kept as collateral in this case.
The Federal Reserve says the FDIC has guaranteed that the loans will be repaid. The release also provided the first idea of how much aid the Federal Reserve actually provided after the collapse of the two banks, lending data. After the failure of Silicon Valley Bank and Signature Bank, worried depositors began withdrawing money from their accounts at various banks. A portion of the money borrowed by the central bank will likely be used to repay depositors. After the collapse of the banks at the end of last week, many deposits have moved from small banks to large banks. Several major banks, such as Bank of America, provide such information.
Things to do to prevent Corona virus
# try to stay at home all the time.
# Follow the rules and use mask when going out for emergency.
# three-layer cloth mask can be washed if desired.
# wash clothes after coming home from outside. Or hang it without shaking for at least four hours.
# Wash hands thoroughly (for at least 20 seconds) with soap or liquid before coming outside.
# plastic PPE or eyes, face, head must be washed thoroughly with detergent and dried after one use.
# Wear PPE made of cloth or clean as described.
# Use a head cap that completely covers the hair.
# Those who have sneeze cough should follow all the rules promulgated by the government. Also, wash hands as directed before and after handling food items, keys, switches, mice, remote controls, mobiles, watches, computer desks, TVs, etc. and after using the bathroom. Those who have dry hands use Moisture after washing their hands. Soap or hand liquid can be used. Why can this virus remain in the crackle (cracked part) of dry hands? Avoid using highly alkaline soaps or detergents.
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