US considering more federal support for banking industry: report ...Middle East

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US considering more federal support for banking industry: report
US financial authorities are considering expanding the line of credit they extended to banks earlier this month to prevent the collapse of First Republic Bank, which had received a $30 billion bailout from a consortium of its own competitors, according to Bloomberg News. Bloomberg reported over the weekend that the expansion of the Fed’s lending facility is one of several public sector options now under consideration by government officials to further prop up the teetering banking industry. The Fed can’t change its policy in response to the matters pertaining to individual banks. Rather, it has to craft policies that cater to the banking sector as a whole. But Bloomberg reports t

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