Banks, Investment Firms Borrow Less From Fed

By: Associated Press
By: Associated Press

The Federal Reserve says commercial banks and investment firms borrowed slightly less from its emergency lending program over the past week.

The Fed report shows commercial banks averaged $88.4 billion in daily borrowing over the week ending Wednesday. That was down from $90.2 billion in average daily borrowing logged over the week ended Dec. 11.

Investment firms drew $50.5 billion over the past week. That compared with an average of $52.8 billion the previous week. This category includes any loans that were made to the U.S. and London-based broker-dealer subsidiaries of Goldman Sachs, Morgan Stanley and Merrill Lynch.


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