Enter multiple symbols separated by commas

Lehman Says Did Not Access Fed Discount Window

Lehman Brothers Holdings said Tuesday that it has not accessed the Federal Reserve's discount window in an attempt to raise funds.


"We did not access the primary dealer facility (Fed Window) today," Lehman Treasurer Paolo Tonucci told CNBC. "The last time we accessed the facility was on April 16 for testing purposes."

Tonucci said Lehman ended the first quarter with liquidity of $34 billion and finished the second quarter well above $40 billion.

Lehman shares, which had been trading lower on talk that the investment bank would need to raise capital, trimmed its losses in response to Tonucci's comments. However, the stock remained down about 9 percent amid ongoing fears about its balance sheet.

Earlier Tuesday, the Wall Street Journal said Lehman was looking to raise about $3 billion to $4 billion in order to deleverage its business, citing sources familiar with the matter.

But some analysts said they expected there was no urgent need for Lehman to further bolster its balance sheet.

"In our view, there is no immediate need to raise equity capital, and the company would only take this painful step in an effort to cease the drumbeat of negative perceptions," David Trone, an analyst for Fox-Pitt, Kelton, wrote in a research note.


  • Management shakeup: Catalyst for investment?

    Philippe Bodereau, MD & global head of financial research at Pimco, reveals whether earnings and new management roles have made him more bullish on European banks.

  • This is the top credit risk for Asian banks

    Eugene Tarzimanov, VP and senior credit officer at Moody's Investors Service, explains why the unwinding of asset bubbles is the biggest risk for Asian banks in the months ahead, followed by China's slowdown.

  • Fred Hochberg and Penny Pritzker

    The Commerce Secretary and head of the Export-Important Bank urge Congress to put U.S. businesses first and reauthorize the bank.