Banks borrow less from Fed’s emergency loan window
By MARTIN CRUTSINGER, The Associated Press Friday, August 22, 2008WASHINGTON - Banks borrowed a bit less over the past week from the Federal Reserve’s emergency lending program, while Wall Street firms passed for a third straight week.
The Fed reported Thursday that commercial banks averaged $17.51 billion in daily borrowing over the past week. That compared with a daily average of $17.70 billion in the previous week.
Investment houses for a third week did not take out any loans, a possible sign that pressures on them for short-term credit may be easing.
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