The New Bank Terms Program Will Offer Loans of Up to One Year to Lenders Pending Collateral

New bank term funding program will offer loans of up to one year to lenders that pledge collateral including US treasuries and other qualifying assets which will be valued at par. The new program is supposed to eliminate an institution's need to quickly sell securities in times of stress. Officials on Sunday said that no loss is stemming from the resolution of either SVB or signatures deposits would be borne by the taxpayer. Any shortfall would be funded by a levy on the rest of the banking system.