FED approved 367.8 billion US Dollars loans for banks in September

The US Federal Reserve (FED) allowed banks to borrow up to 367.8 billion dollars per day during the last week in September, breaking the record of the week before – 187.75 billion dollars per day, Reuters informs.

„With interbank lending markets frozen and commercial paper markets near paralyzed, there is virtually nowhere else where banks can get short term funding except the central bank.

Banks’ discount window borrowings averaged $367.80 billion per day in the week ended October 1, nearly double the previous record daily average of $187.75 billion last week, Federal Reserve data released on Thursday showed”, Reuters comments.