FHLB says Silvergate advances ‘fully repaid,’ American Banker reports

A spokesperson for the Federal Home Loan Bank of San Francisco confirmed to American Banker that Silvergate Bank "had been been paying down the $4.3 billion over the last 2 months" and that the bank’s "outstanding advances have been fully repaid," reported Kate Berry and John Heltman. Silvergate Capital took out $4.3B in advances from the Home Loan Bank in the fourth quarter of 2022 after facing a severe decline in deposits from its cryptocurrency clients and the firm had previously said in a regulatory filing that the advances could imperil the bank’s capital adequacy, the report noted. Reference Link