The Federal Reserve says commercial banks boosted their borrowing over the past week from its emergency lending program, while investment firms drew less.
The Fed says commercial banks averaged nearly $65 billion in daily borrowing over the week ending Wednesday. That was up from $61.6 billion in average daily borrowing logged over the week that ended Jan. 21.
Investment firms drew $32 billion over the past week. That was down from an average of nearly $32.7 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 Bank of America Corp.'s Merrill Lynch.