找回密码
 立即注册
首页 全球财经资讯 查看内容
  • QQ空间

美联储资产负债表创纪录,银行在病毒危机中发放贷款

2020-3-20 13:34

 

据路透社报道,美国联邦储备委员会(美联储)本周的资产负债表达到创纪录的4.7万亿美元,各银行纷纷从美联储获得低息贷款,以缓解全球健康危机对经济造成的损害。


周四公布的数据显示,银行从美联储的“贴现窗口”借款本周飙升至逾280亿美元,而前一周为1100万美元。此前,美联储大幅削减了贷款成本,并鼓励企业利用美联储帮助向经济注入信贷。


贴现窗口是美联储充当经济“最后贷款人”的主要工具,而那些认为使用贴现窗口是一种危机信号的银行往往会避开它。


但与2007年至2009年的危机一样,美联储一直在努力打破这种耻辱,鼓励银行自由使用贴现窗口。周日,美联储将利率下调至0.25%,并允许银行一次最多借贷90天。


“联邦储备委员会鼓励显著增加本周在贴现窗口借款和银行证明愿意用贴现窗口融资来源来支持家庭和企业的信贷流动,“美联储在一份声明中说与银行借款数据公布的一周。


这是自2009年10月以来从贴现窗口扣除的最大金额,当时美国仍在努力摆脱2007 - 2009年的经济衰退。


这也是美联储本周开始采取行动的切实迹象。美联储将目标利率下调至接近于零的水平,并迅速推出了一系列其它措施,以确保银行、企业融资和海外市场继续正常运转,尽管美国经济的很大一部分已经停止运转,以遏制冠状病毒的蔓延。


之间的贴现窗口贷款,扩大短期贷款回购操作,恢复购买债券,美联储的资产负债表创下4.7万亿美元的新高,记录设置一个星期跳约3500亿美元超过资产负债表扩张的速度达到了在过去的危机。


与一年前相比,这是一个明显的变化。当时,美联储在关闭10年前最后一项应对危机的努力时,正试图缩减所持资产的规模。

 

The US Federal Reserve’s balance sheet reached a record US$4.7 trillion this week and banks grabbed cut-rate loans from the central bank as efforts to blunt the economic damage of a global health crisis took hold, Reuters reports.

Data released Thursday showed bank borrowing from the Fed’s “discount window” spiked to more than US$28 billion this week, compared with US$11 million the week before, after the central bank slashed the cost of loans and encouraged firms to tap the Fed to help funnel credit into the economy.

The discount window is the main tool through which the Fed acts as the economy’s “lender of last resort”, and has often been avoided by banks who feel that using it is a sign of distress.

But as in the 2007 to 2009 crisis, the Fed has been trying to break that stigma and encourage banks to use the discount window freely. On Sunday it slashed the interest rate to 0.25 percent and allowed banks to borrow for up to 90 days at a time.

“The Federal Reserve Board is encouraged by the notable increase in discount window borrowing this week with banks demonstrating a willingness to use the discount window as a source of funding to support the flow of credit to households and businesses,” the Fed said in a statement released alongside data on bank borrowing for the week.

It was the largest amount taken from the discount window since October 2009, when the United States was still climbing out of the 2007 to 2009 recession.

It was also a tangible sign of the Fed’s actions this week starting to take hold. The Fed slashed its target interest rate to near zero and has rolled out in quick succession a series of other measures to ensure bank, corporate funding and overseas markets continue to function even as large parts of the economy shut down to try to squelch the coronavirus epidemic.

Between the discount window loans, expanded short-term loan repurchase operations, and a resumption in bond buying, the Fed’s balance sheet hit a new high of US$4.7 trillion – a record setting one week jump of around US$350 billion that topped the pace of balance sheet expansion reached during the previous crisis.

That is a marked change from a year ago when the Fed was trying to shrink the size of its holdings as it closed down the last of its crisis-fighting efforts of a decade ago.

 

来自: ejinsight