> the Fed has been providing most of the liquidity to the FDIC in the last 2 months

I’ve seen this claim from AEI folks [1], and while I’m listening, I’m not (yet) buying it. It looks more like the BTFP [2][3]. (EDIT: It’s not the BTFP. Something screwy here, but unclear how much.)

> the FRC deal, FDIC is giving JPM a 50B term loan, which is most likely again borrowed from the Fed

Source? The press release notes a loss-sharing arrangement. No loan. (EDIT: there is a loan.)

[1] https://thehill.com/opinion/finance/3908515-the-fed-circumve...

[2] https://www.federalreserve.gov/financial-stability/bank-term...

[3] https://www.federalreserve.gov/newsevents/pressreleases/mone...