4min chapter

We Study Billionaires - The Investor’s Podcast Network cover image

BTC125: James Lavish On Why Bitcoin Performs From Here (Bitcoin Podcast)

We Study Billionaires - The Investor’s Podcast Network

CHAPTER

The Importance of Yield Curve Control

The Bank Term Funding Program, BTFP, lets banks borrow against US Treasury securities instead of selling them on the open market. The rate is a year out plus 10 basis points, so it's not what Fed funds is. There's no prepayment penalty and there are no transaction fees. And then this is the best part: Nobody has to know that you borrowed from us for at least a year after the term of your borrowing.

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