Bank borrowing from Fed rises to snap two weeks of declines: Fed

Investing.com — Bank borrowing from the Federal Reserve’s emergency lending programs climbed in the week ended July 19, snapping two weeks of declines, according to latest Federal Reserve data released Thursday.  

In the week ended July. 19, total lending from the two Fed backstop lending programs rose to $105.56 billion from $105.00B in the prior week. 

Banks borrowed an average of $2.63B each night, down from $2.69B from a week earlier, according to the Fed data.

Borrowing from the Fed’s Bank Term Funding Program — the new emergency lending program launched following the collapse of Silicon Valley Bank — rose to $102.93B from $102.30B in the prior week.

Lending to the Federal Deposit Insurance Corporation, which took over the collapsed Silicon Valley Bank, fell to $159.64B from $162.44B.