The U.S. added 111 lenders to its list of “problem banks,” a jump that suggests rising bank failures may force the Federal Deposit Insurance Corp. to deplete a reserve fund that shrank 40 percent this year.
Banks trim borrowing from emergency Fed program
Banks reduced their borrowing from a Federal Reserve emergency lending program for the third straight week, a sign the institutions are having an easier time getting credit from private markets.
The Fed said Thursday that commercial banks averaged $30 billion in daily borrowing over the week that ended Wednesday. That’s down from $30.7 billion in the week ended Aug. 19. – AP
Banks reduced their borrowing from a Federal Reserve emergency lending program for the third straight week, a sign the institutions are having an easier time getting credit from private markets.
The Fed said Thursday that commercial banks averaged $30 billion in daily borrowing over the week that ended Wednesday. That’s down from $30.7 billion in the week ended Aug. 19. – AP
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