Not satisfied with the billions in interest they’re earning on excess reserves, or the unlimited facilities The Fed opened up with the BTFP to bail out regional banks’ losses on their bond portfolios, The Wall Street Journal reports that banks have spent the past week or so testing a cunning plan to push more losses on to the US taxpayer. …except those Treasurys are trading notably below par and the government will accept them as par, implicitly paying a premium for the bonds. As a reminder, US banks are sitting on $620 billion in unrealized paper losses on government bonds… https://www.activistpost.com/2023/05/taxpayers-fleeced-again-big-banks-push-new-fdic-re-funding-trick.html