Wall Street Firms Reduce, Banks Step up Fed Loans

June 26, 2008 3:25:52 PM PDT
Wall Street companies trimmed their borrowing from the Federal Reserve's emergency lending program over the past week, while commercial banks were ramping it up. A report from the central bank says the investment firms averaged 6.1 billion dollars in daily borrowing for the week ending yesterday, compared with 8.6 billion the previous week.

Banks, on the other hand, increased their borrowing, averaging 14.7 billion dollars a day. It was 13.4 billion last week.