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Associated Press
Thu, July 23, 2009
Positive Sign: Banks Cut Borrowing From Fed Emergency Program
Associated PressThu, July 23, 2009
The Fed says commercial banks averaged $33.7 billion in daily borrowing over the week that ended Wednesday. That was down from $34.5 billion in the week ended July 15.
The identities of the financial institutions are not released. They pay just 0.50 percent in interest for the emergency loans.
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