I want to know the answer to the following question:
What did the banks chose to do with the money created by the Federal Reserve instead of financing more domestic loans and refinancing mortgages?
All the background I'm provided with is that "By creating $600 billion and inserting[clarification needed] this directly into banks, the Federal Reserve intended to spur banks to finance more domestic loans and refinance mortgages.". Is that enough to answer the question?