Silvergate Capital SI, +13.00% a competing lender that shifted its business toward crypto a decade ago, received at least $3.6 billion. Silvergate, meanwhile, didn’t have any home-loan bank borrowings a year earlier. The $1.1 trillion home-loan bank system provides low-cost funding to its more than 6,500 members, which include commercial lenders, thrifts, credit unions and insurers. Eric Howell, Signature’s chief operating officer, said the bank’s higher borrowings are “pretty low historically for banks,” especially as Federal Reserve tightening has drained liquidity. Crypto banks aren’t the only ones in need of quick cash.

Source: Wall Street Journal January 21, 2023 22:59 UTC