Fed's ‘Emergency Lending Facility’ Being Readied for Takeoff

Bloomberg News reported yesterday that U.S. “authorities” are looking at expanding Federal Reserve offerings, including in particular the expansion of its emergency lending facility. It cites “people with knowledge of the situation” for their report. While the report is that it would be to deal with both Silicon Valley Bank and Signature Bank, while buying some time for First Republic, there are bigger holes to attempt to plug.