Barlcays, Bear Stearns, Country Wide, Deutsche Bank, Morgan Stanley, and BNP were the first banks to receive a PDCF Federal loan, on March 17, 2008.
The PDCF loans were designed to, in the Fed’s words:
Function as an overnight loan facility for primary dealers, similar to the way the Federal Reserve’s discount window provides a backup source of funding to depository institutions. By providing a source of liquidity to primary dealers when funding was not available elsewhere in the market, the program helped to improve financial market conditions more generally.
The document embedded below describes which banks received loans, when they received them, and for how much.
Every bank, even Goldman, is on this list.
Bank of America received the last, on May 12, 2009.
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