Fed's Logan tells bankers to sign up for and use Fed's emergency loan facility

PALM DESERT, California, Feb 14 (Reuters) - Dallas Federal Reserve Bank President Lorie Logan on Friday renewed her call for all U.S. banks to sign up for and test the Fed's emergency loan facility, known as the discount window, noting that there are some banks that still haven't done so.

The failure of Silicon Valley Bank in 2023 showed how quickly a bank run can occur, she said, and underscores why banks need to be ready to borrow from the Fed when needed. "You have many sources of liquidity, and you manage a variety of liquidity lines and places to get that liquidity," she told a group of bankers. "But one of them should be the Federal Reserve."