Security guards let individuals enter the Silicon Valley Bank's headquarters in Santa Clara, Calif., on Monday, March 13, 2023. The federal government intervened Sunday to secure funds for depositors to withdraw from Silicon Valley Bank after the banks collapse. Dozens of individuals waited in line outside the bank to withdraw funds.Benjamin Fanjoy/AP

WASHINGTON (AP) — Cash-short banks have borrowed about $300 billion in emergency funding from the Federal Reserve in the past week, the Fed announced Thursday.

Nearly half the money — $143 billion — went to holding companies for two major banks that failed over the past week, Silicon Valley Bank and Signature Bank, triggering widespread alarm in financial markets.

An additional $148 billion in lending was provided through a longstanding program called the “discount window," and amounted to a record level for that program.

The Fed has lent an additional $11.9 billion from a new lending facility it announced on Sunday. The new program enables banks to raise cash and pay any depositors withdrawing funds.

Banks have posted high-quality collateral, such as Treasury bonds, for all the loans. The Fed expects all the loans to be repaid.