Fed’s ‘Stigmatized’ Emergency Tool for Banks Draws Flak at Own Conference
- Emergency tool is shunned by banks, Fed is encouraging its use
- Panelists spoke Monday at conference hosted by Atlanta Fed
The Marriner S. Eccles Federal Reserve building in Washington, DC.
Photographer: Graeme Sloan/BloombergThis article is for subscribers only.
The Federal Reserve needs to do more to address issues that keep US banks from tapping a key emergency lending facility.
That’s the message of current and former central bankers and experts, who delivered some cutting observations aimed at the Fed’s efforts to revamp the backstop program, known as the discount window, during a Federal Reserve Bank of Atlanta conference on Monday.