Silvergate borrowed from Federal Home Loan Bank; Powell on nonbanks

Silvergate Bank loaded up on $4.3 billion in FHLB advances : The embattled crypto-service bank got a lifeline of liquidity in the fourth quarter of 2022 from the Federal Home Loan Bank system, raising new questions about both the Home Loan Banks' purpose and crypto contagion.

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Here's more of what we're covering today in banking, credit unions, fintech, payments and regulation:

Powell: Nonbanks need structural reforms, not Fed backstop : In remarks delivered at a central banking symposium, Federal Reserve Board Chair Jerome Powell called for changes to money market funds and the Treasury market.

What China's post-COVID travel reopening means for payments providers : A Visa executive explains how China's long lockdown held back Asia's travel-spending recovery and why government policies, economic trends and even the hit Netflix series "Bridgerton" caused post-pandemic cross-border travel spending to spike in many parts of the world.

Families, couples, ex-couples: fintechs delve into shared finance : Challenger banks and apps such as Zeta, Onward and Manifest Financial are helping people manage complex financial relationships beyond simple joint accounts.

Michigan credit union is first to announce bank acquisition in 2023 : 4Front Credit Union in Traverse City has agreed to buy Old Mission Bank in Sault Sainte Marie. There were 16 such acquisitions announced in 2022.

Are you a dynamic, up-and-coming young woman at a credit union, or do you work with someone who is? Learn?how to apply for The Most Powerful Women in Credit Unions: Next . This list recognizes high-achieving women, aged 40 and younger, in the pipeline to the C-suite.