The #BankTermFundingProgram (#BTFP) was a program established by the Federal Reserve Board in March 2023 to provide liquidity to eligible depository institutions in the United States. (To avoid the massive sell-off of treasuries)
The program offered short-term loans of up to one year to banks, savings associations, credit unions, and other eligible institutions, with the goal of helping them meet the needs of their depositors during a period of financial stress.
The #BTFP was designed to be a temporary program, and it ceased making new loans on March 11, 2024. However, the program remains available to existing borrowers until their loans mature.