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Discount window borrowing rises to $37 billion on Wednesday
By Rex Nutting
Last update: 4:31 p.m. EDT March 27, 2008
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WASHINGTON (MarketWatch) -- Major investment banks and broker-dealers borrowed $37 billion from the Federal Reserve through the discount window on Wednesday, $8.2 billion more than the previous week. For the entire week, loans to the 20 primary dealers averaged $32.9 billion a day, up $19.5 billion from the previous week's average. The discount window has been open to the primary dealers for only the 10 days since the Fed helped rescue Bear Stearns on March 16. The overnight loans carry an interest rate of 2.50%. End of Story