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Banks cut emergency borrowing from Fed

Banks cut emergency borrowing from Fed

Banks borrowed less from the Federal Reserve's emergency lending program over the past week, a further signal that credit markets are improving.
The Fed said that banks averaged $4.3 billion in borrowing for the week that ended Wednesday. That is down from $5.1 billion last week.
Loans from the central bank's emergency lending program, known as the discount window, surged to a high of $110 billion a day during the height of the financial crisis in the fall of 2008. Banks found their customary sources of credit frozen.


Updated : 2021-05-14 09:54 GMT+08:00