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JPMorgan eyes plan to tap Fed's discount window to break stigma
Does this sound like an economy or financial system that's in great shape?
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By Christopher Condon and Shahien Nasiripour
Tuesday, February 25, 2020
A senior JPMorgan Chase & Co. executive said the largest U.S. bank planned to borrow funds through the Federal Reserve's emergency lending facility in an exercise designed to break the stigma attached to that program.
Jennifer Piepszak, JPM's chief financial officer, said today during the firm's investor day in New York that the bank would borrow from the so-called discount window from time to time this year and had discussed the plan with regulators.
... Dispatch continues below ...
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The remarks come less than three weeks after Randal Quarles, the Federal Reserve's vice chairman for banking supervision, spoke of the need to make it easier for banks to access emergency loans from the Fed. ...
... For the remainder of the report:
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