Article follows Bloomberg reporting regulators may adjust and expand the new BTFP  plan to help First Republic. Not sure how you expand a program that said they were going to give all  banks face value for their underwater fixed income securities. The only thing I could think of would be they are now going to include less quality assets (junk) and not just US Treasuries and mortgage backs. If that is the case it is saying that First Republic (and probably many others) have a lot of crap on their balance sheets. If they already gave the FED anything covered under the new plan for 100 cents on the dollar then what they have left must be of lower quality. This may help if they expand the plan but this shows the banks probably have a lot of junk just like the GFC and because laws were changed to prevent bailouts like the kind that took place back then, this is once again ignoring the laws, doing all kinds of creative financing to bail them out when the banks and regulators were once again asleep at the wheel. Speaking about the regulators(the FED) can you believe the FED said when they did the stress tests for the banks they didn’t test for the effect, rapidly steep interest rate hikes would have on the banks! What the hell would you be testing for? The reason they didn’t test for this is because if they did they never would have been able to raise rates as fast and as sharply as they did. More evidence this wasn’t about inflation, they wanted to create a banking crisis. It has all been done on purpose to crash the system we currently have. What we still don’t know, to usher in a CBDC or to go back on a gold/silver monetary system?                                                                                            https://www.zerohedge.com/markets/us-weighs-expanding-feds-emergency-liquidity-program-stabilize-first-republic-other