As simple an explanation as you'll likely find. Fed propping up banks.
Fed expects the banks to pay them back at 5% interest within a year. Or lose the asset (the obvious choice).
https://www.rappler.com/business/things-to-know-united-states-federal-reserve-bank-term-funding-program/
The US Federal Reserve's Bank Term Funding Program will offer loans with maturities of up to a year to banks, savings associations, credit unions, and other eligible…
A club for red-pilled exiles.