Last week, Fed emerging funding facilities were still being pumped:
Because deposits continue to flow out of banks:
Lending data is lagged by another week. The below data is for the week ending May 3. Bank credit resumed falls:
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Last week, Fed emerging funding facilities were still being pumped:
Because deposits continue to flow out of banks:
Lending data is lagged by another week. The below data is for the week ending May 3. Bank credit resumed falls:
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