Bank Term Funding Program

The Bank Term Funding Program (BTFP) is a loan program for banks operated by the United States Federal Reserve since 2023, The Federal Reserve established BTFP to offer loans of up to one year to eligible depository institutions pledging qualifying assets as collateral, as a response to help stabilize the banking industry after the 2023 United States banking crisis. The program was introduced on March 12, 2023 and was set to expire in March 2024. It ceased extending new loans on March 11, 2024.