Fed’s Emergency Loans to Banks Fall, But Remain High
- Borrowing retreated for third straight week, Fed data show
- Discount loans fell, lending through new program rose
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Banks once again reduced their borrowings from two Federal Reserve backstop lending facilities in the most recent week, a sign the financial stresses that emerged following a string of bank collapses last month may be stabilizing.
US institutions had a combined $148.7 billion in outstanding borrowings in the week through April 5, compared with $152.6 billion the previous week.