Investing.com -- Bank borrowing from the Federal Reserve's emergency lending programs fell in the week ended Aug. 16, data from the Federal Reserve showed Thursday.
In the week ended Aug. 9, total lending from the three Fed emergency lending programs fell to $250.84 billion from $254.18B in the prior week.
Banks borrowed an average of $1.96B each night, up from $1.91B from a week earlier, according to the Fed data.
Borrowing from the Fed’s Bank Term Funding Program, which was launched to inject confidence in the banking system following the collapse of Silicon Valley Bank earlier this year, rose to $107.24B from $106.86B in the prior week.
Lending to the Federal Deposit Insurance Corporation, an independent agency tasked with ensuring stability and public confidence in the U.S. financial system, fell to $141.64B from $145.41B.