The Federal Reserve has been buying assets at a record pace and its lending to US businesses has more than doubled in the past three years.
But it is still borrowing just £1.6bn a year.
Here’s what you need to know about the US central bank’s borrowing.
How much is the Fed’s lending to the US economy?
The US economy is one of the world’s largest and most powerful.
At the end of the year, US consumers spent £14.9tn, and US businesses generated £3.6tn in income.
The Fed has lent $2.2tn, or 7.6% of GDP, to US banks and financial institutions.
The US government has lent £2.5tn, but only £2bn to US companies.
This compares to £9.4tn to UK companies and £4.9bn to European companies.
How is the US banking system funded?
US banks have been borrowing from the Fed since the 2008 financial crisis, but the money has only been used for $600bn (£370bn) since the onset of the financial crisis.
The bulk of the money went to the banks’ US operations, which have been under pressure due to weak consumer spending and low commodity prices.
Banks have continued to borrow heavily from the government to meet this debt.
The Treasury has already raised $3.7tn (£2.3tn) through the US government’s bond purchase programme, which has been in place since 2009.
What does this mean for the UK?
The Treasury said it was prepared to take the government’s guarantee of up to $4bn (£2bn) to cover its borrowing needs.
It is unlikely that the government will be able to borrow more than that.
The Bank of England has also said it would be prepared to lend up to a further $5bn (£3.5bn) if the US bank loans were to rise above the £3bn (£1.5 billion) limit that the Fed has set.
Will the UK remain a big customer of the Fed?
The UK has had its share of negative externalities and has paid much of the price for the US financial crisis with lower living standards and higher unemployment.
What are the UK’s financial markets like?
The UK is a financial centre with a small but thriving stock market, where interest rates are very low and a strong currency makes it attractive for overseas investors.
But these markets are not the same as those of the US and the European Union, where there is much more regulation.
For instance, banks must comply with US capital standards and US rules on capital requirements.
In contrast, the UK does not have a national banking regulator, nor does it have any regulations on corporate governance.
The Office of Fair Trading has also been criticised for not doing enough to protect investors.
Is there a risk the US could become more competitive?
The Fed’s rate hikes are not expected to last much longer.
But the recent moves are likely to spur the US Federal Reserve to raise interest rates in the coming months.
These moves could mean that US banks will need to borrow in the US in the long run, as they will face higher costs to repay the money.
How are the US companies benefiting from the increased demand for US assets?
The financial sector has been very much affected by the financial crash, which forced the Fed to step in to help US companies and their customers.
The increased demand from US companies is being driven by increased demand at home and abroad.
As well as increasing domestic demand, the US is seeing more international investment and more foreign direct investment.
This has led to the growth of the consumer-led economy.
US companies are also benefiting from lower prices for their goods and services, as consumers have more freedom to shop abroad.
The increase in demand for goods from the US also means that US companies have less need for international capital and may be able more easily raise more money from their own banks.
Will I be able get a loan from the Treasury if the Fed goes up?
You could not get a mortgage, or a credit card, or get a job through the financial system before the financial meltdown, and this is why the Federal Government has been so cautious.
The Federal Government is planning to give more loans to US firms in the future, and it will only lend to companies that meet certain criteria, such as paying off their debts.
Why are there so many US companies with debts?
US companies can’t borrow from banks directly because they cannot borrow from private investors.
Instead, they have to borrow money from the public, and these are usually from the private sector.
However, the Federal government has also given some loans to firms that are privately owned.
For example, the Bank of Nova Scotia and the Federal Deposit Insurance Corporation (FDIC) gave loans to the United States Postal Service, the nation’s largest mail carrier.
These loans helped the USPS