Banks borrow more from the Federal Reserve - KWWL - Eastern Iowa Breaking News, Weather, Closings

Banks borrow more from the Federal Reserve

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WASHINGTON (KWWL) - The Federal Reserve said commercial banks borrowed more, while investment firms drew less over the past week from its emergency lending program.

The Fed report shows commercial banks averaged $87.9 billion in daily borrowing over the week ending Wednesday.

That was up from $86.6 billion in average daily borrowing logged over the week that ended Dec. 31.

Investment firms drew nearly $36 billion over the past week. That compared with an average of $38.5 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.

Online Executive Producer Nate Leding

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