That's exactly right. The investors do perceive that the system is safe and sound and that Congress has created, created a, wisely created a structure that perpetuates that safety and soundness. 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. (01:27–01:39)
CLAIM
Asserts that the Federal Home Loan Bank system made $675 billion in advances in one week during the 2023 banking crisis.
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