During the 2023 banking crisis, the federal home loan bank system made $675 billion in advances in a single week, the largest one week advance volume in its history. Among the institutions that heavily borrowed from the system were Silvergate Bank, Silicon Valley Bank Signature and First Republic, all of which ultimately either failed or, or entered voluntary liquidation. Knowing what we know now, if the Federal Home Loan bank system had known that these institutions would ultimately fail, would you still have made those advances? (01:39–01:51)
CLAIM
Asserts that Silvergate Bank, Silicon Valley Bank, Signature, and First Republic borrowed heavily from the Federal Home Loan Bank system and later failed or liquidated.
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