fed news: Demand for Fed funding tool hits record before rate hike
Demand for the Bank Term Funding Program rose approximately $6.3 billion in the week through Wednesday, Jan. 24 to an all-time high of $167.8 billion, data from the Fed showed. Borrowing has jumped by more than $50 billion since mid-November after the program's rate increasingly fell below the rate at which institutions could earn money by parking reserves at the Fed.
Source: indiatimes.com