Investment, commercial banks borrow $218 bln from Fed

WASHINGTON (MarketWatch) - Investment and commercial banks had borrowed a total of $218 billion from the Federal Reserve as of Wednesday, the Fed reported Thursday. As of Wednesday, the investment banks had borrowed $105.7 billion. This includes credit to domestic and London-based broker-dealer subsidiaries of Goldman Sachs, Morgan Stanley and Merrill Lynch. Commercial banks borrowed $39.3 billion. In addition, banks have tapped $73 billion to buy asset-backed commercial paper from money market mutual funds.

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