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Borrowing from emergency Fed program to prevent banking crisis rises to $54 billion

By Zach Halaschak
Published March 23, 2023 9:13pm ET
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Borrowing from emergency Fed program to prevent banking crisis rises to $54 billion
Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve, Wednesday, March 22, 2023, in Washington. | (Alex Brandon/AP)

Borrowing from a program set up by the Federal Reserve to bolster the banking system following the collapse of Silicon Valley Bank has hit $54 billion in just under two weeks.

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Federal Reserve Finance Loans Silicon Valley Bank