Banks borrowing more from Fed

September 14 2007 Money.CNN.com Banks increased their borrowing from the Federal Reserve this week, pushing the one-day level to the highest point since the day following the 2001 terrorist attacks. The Fed reported Thursday that direct borrowing by commercial banks from the Fed totaled $7.15 billion in primary credit on Wednesday. That was the highest one-day total since the Fed loaned $45.5 billion on Sept. 12, 2001, the day following the terrorist attacks on New York and Washington. The daily average borrowing from the Fed for the week ending Wednesday totaled $2.93 billion, an increase of $1.83 billion from the average for the previous week.

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