The balance of the Federal Reserve's emergency rescue tool has returned to zero, and the SVB event has come to an end

According to a report by Golden Finance, the Federal Reserve's emergency lending tool, the Bank Term Financing Program (BTFP), launched in response to the Silicon Valley Bank (SVB) explosion, has a zero balance in the latest data released by the Fed. The tool expired on March 11 last year and cannot be renewed, with a maximum size of over $160 billion at one point. On March 10, 2023, US regulatory agencies closed Silicon Valley Bank and the Federal Deposit Insurance Corporation took over bank deposits, becoming one of the largest major bank failures in US financial history. The collapse of SVB also triggered a series of crises in the US banking industry. The SVB incident forced the Federal Reserve, the US Treasury Department, and others to come out to rescue the market, and BTFP is one of the rescue measures. This tool provides loans of up to one year to eligible deposit institutions, with eligible assets as collateral.