Fed's disclosure of borrowing was anticlimactic

04/4/2011 | AmericanBanker.com (free registration)

The Federal Reserve last week disclosed which banks borrowed how much through its discount window during the global financial crisis. The disclosures could have destabilized the banks involved but ended up being something of a nonevent. However, bank executives have reacted to the disclosure, made under court order, in different ways. JPMorgan Chase CEO Jamie Dimon said, "We never intend to use the discount window." Dimon's position on the disclosure was in contrast to that of U.S. Bancorp Treasurer Kenneth Nelson, who portrayed the bank's use of the facility as a tactical move.

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