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Banks Borrow Record Sums from Fed
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Cheapo Groovo
Aug 5, 2008, 10:04:32 AM8/5/08
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Banks borrowed a record amount of funds from the Federal Reserve in the
latest week as the year-old credit crisis took a persistent toll, while
the commercial paper market continued to contract, signaling tough
conditions for short term borrowers.
latest week as the year-old credit crisis took a persistent toll, while
the commercial paper market continued to contract, signaling tough
conditions for short term borrowers.
Banks=3F primary credit borrowings averaged $17.45 billion per day in the
latest week, the second straight week this had hit a record and up from
$16.38 billion the previous week, Fed data showed on Thursday.
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