Fed Backstop Borrowing Falls Again

Banks continued to avail themselves of Fed liquidity backstops over the last week, but the aggregate amount receded again. That's according to the latest balance sheet update, released on Thursday afternoon, as usual. Discount window usage stood at $67 billion as of Wednesday, down only marginally from the prior week. Lending under the newly-created bank term funding program fell for the first time since it was established last month, but still stood at nearly $72 billion. Combined, borrowi