Banks borrow record amounts from Fed's discount window

09/12/2008 | Bloomberg

Last year, commercial banks avoided borrowing from the Federal Reserve's discount window, but the program seems to have lost its stigma as borrowing has increased rapidly in recent months. Over the past eight weeks, borrowing from the window hit record levels six times. Fed data show that borrowing hit $23.5 billion as of Wednesday, compared with an average of $779 million per week in the months following a Fed call to use the facility.

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