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So-called lender of second-last resort has already begun preparing for the worst.
Yet another funding crisis indication comes to us in a report from Bloomberg. FHLB co-ops are issuing debt like we've never seen before in what can only mean major bank funding problems. The only time we ever see anything like this is crisis. And this one could even be worse than those before.
Eurodollar University's Money & Macro Analysis
FHLB Financial Statements
https://www.fhlb-of.com/ofweb_userWeb/pageBuilder/fhlbank-financial-data-36
Bberg: Key Lender to Regional Banks Raises $88.7 Billion Via Bonds…
The skinny
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