Friday, July 25, 2008

Banks' Fed Borrowing Rises to Highest Level Ever

Who is in trouble, now?

A Fed report released Thursday said commercial banks averaged $16.4 billion in daily borrowing over the past week.

That was up from $13.9 billion in the previous week, and is at the highest level ever.

The identities of commercial banks and investment houses are not released.

Commercial banks and investment companies now pay 2.25 percent in interest for the loans.

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