S&P 500 Extends Gain, Up 0.8%
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BofA sees further signs of stabilization in the banking industry
March 31, 2023 2:01 PM EDTBofA believes there have been further signs of stabilization in the banking sector after the Federal Reserve released its balance sheet data for the week ending March 29.
The data provides the third look at take-up rates in the Fed's backstop facilities. BofA analyst Michael Gapen revealed that the Fed's balance sheet declined by $28.1 billion, driven by a $10.4 billion drop in securities held outright and an $11.5 billion decline in loans, representing... More
