Fed Encouraged by Jump in Discount-Window Borrowing
This article is for subscribers only.
The Federal Reserve said it’s “encouraged” by the jump in borrowing from its discount window this week, as the central bank continues to try to destigmatize the seeking of emergency overnight loans by financial institutions during the coronavirus pandemic.
Daily borrowing from the window averaged about $6.7 billion over the past week and stood at $28.2 billion as of Wednesday, up from $11 million the previous Wednesday, according to figures published Thursday.