Bloomberg: Foreign Banks Tapped Fed’s Secret Lifeline Most at Crisis Peak

HUH?!
REPORT EXCERPT: The biggest borrowers from the 97-year-old discount window as the program reached its crisis-era peak were foreign banks, accounting for at least 70 percent of the $110.7 billion borrowed during the week in October 2008 when use of the program surged to a record. The disclosures may stoke a reexamination of the risks posed to U.S. taxpayers by the central bank’s role in global financial markets.


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Foreign Banks Tapped Fed’s Secret Lifeline Most at Crisis Peak - Bloomberg