- As Global Markets Plunge, How Bad Can Crisis Get?
- JPMorgan Froze Lehman Assets Ahead of Bankruptcy
- Like J.P. Morgan, Warren E. Buffett Braves a Crisis
- US Job Market Weakens in September
- Shaky Economy May Last For a While
- Reliant to Seek Strategic Alternatives
- Brazil Stocks Drop 15%, Trading Halted Twice
- Treasury Prices Storm Ahead Amid Safety Stampede
- In Money Markets, Lending Remains Non-Existent
- Spielberg Finalizes Split From Paramount
- Trading the Volatility
- See What People Are Saying About... Dow 10,000 Breach
- Crisis Outlook for Gold, Euro, S&P 500
- Chadwick: Brace Yourself (And Look to Cash)
- Sports Teams a Tough Sell in Today's Market
- Coldwell Bankers' Home Sale Price Reduction: One Tough Sell
- A Bad Case of the Mondays
- Elite XC Gets "Sliced"
Text Size 
U.S. investment banks borrowed no money from the Federal Reserve in the latest week, the first time primary dealers have not sought cash directly from the Fed since the emergency facility was introduced in March following the near collapse of Bear Stearns.
The week before, dealers had borrowed a daily average of $1.74 billion from the Primary Dealer Credit Facility (PDCF). The news comes after Fed Chairman Ben Bernanke said this week the Fed may keep the facility in place through year end. Initially it had been set to expire in September.
The PDCF is one of several facilities the Fed has introduced to provide cheap financing to financial institutions pinched by the credit crisis.
Banks' discount window borrowings averaged $13.01 billion per day in the week ended July 9, down from an average $16.78 billion per day the week before.
Primary credit borrowings averaged $12.86 billion per day in the latest week, down from $14.86 billion the previous week.
The Federal Reserve's portfolio of Bear Stearns assets, held by holding company Maiden Lane, was valued at $28.94 billion as of July 9, up from $28.89 billion on July 2.
Print
Email
Del.icio.us
Digg It
Data is a real-time snapshot *Data is delayed at least 15 minutes