by Peter Schiff, Schiff Gold:

In another sign the financial crisis continues to bubble under the surface, banks borrowed an additional $3.7 billion from the Federal Reserve’s bank bailout program in July.

Currently, there are $106.9 billion in outstanding loans in the Bank Term Funding Program (BTFP).

After the collapse of Silicon Valley Bank and Signature Bank, the Fed created the BTFP, allowing banks to easily access capital “to help assure banks have the ability to meet the needs of all their depositors.”