Democratic Underground - Banks tap Fed's discount window Wednesday for $7.2 billion, the most since 2001

Reply #60: Banks tap Fed's discount window Wednesday for $7.2 billion, the most since 2001 [View All]

UpInArms

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Thu Sep-13-07 04:10 PM
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60. Banks tap Fed's discount window Wednesday for $7.2 billion, the most since 2001

http://www.marketwatch.com/news/story/banks-tap-feds-discount-window/story.aspx?guid=%7B49425D46%2DD0AC%2D4513%2DA24F%2DC4F840FEF1B7%7D&siteid=bnb

WASHINGTON (MarketWatch) -- U.S. banks tapped the Federal Reserve's discount window for $7.2 billion on Wednesday, the Fed said Thursday, the highest total since the terror attacks in 2001 and the first significant borrowing from the Fed since the Fed lowered the discount rate on Aug. 17. The average borrowing for the week was $2.7 billion. Last month, five big banks had borrowed from the discount window in a symbolic show of support for the Fed. The Fed has encouraged banks to use the discount window facility to bring more liquidity into financial markets and to ease the credit crunch.

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Reply #60: Banks tap Fed's discount window Wednesday for $7.2 billion, the most since 2001 [View All]