Discount window borrowing hits fresh high

US commercial banks borrowed an average of $16.8 billion per day from the regional Federal Reserves' discount windows in the week to Wednesday, the highest-ever amount.

"The bulk of the increase for the week as a whole reflects the continued growth of the Fed's discount window as a routine source of term funding by banks, " said Lou Crandall, the chief economist at Wrightson ICAP, a research firm.

Commercial banks can borrow from the discount window of any of the 12 regional Feds for up to 90

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