Fed lending to banks ticks slightly lower in latest week

By Michael S. Derby

WASHINGTON (Reuters) – Federal Reserve emergency lending to banks ebbed slightly in the latest week, causing the size of the central bank balance sheet to move down modestly.

As of Wednesday, banks tapped $88.2 billion from the central bank‘s discount window lending facility, versus $110.2 billion on March 22. Lending via the Fed’s new Bank Term Funding Program moved to $64.4 billion on Wednesday, from $53.7 billion the week before, while Fed “other credit” lending stood at $180.1 billion, from March 22s $179.8 billion.

The three facilities extended a total of $332.7 billion to eligible firms on Wednesday, versus $343.7 billion the prior Wednesday.

The overall size of the Feds balance sheet fell to $8.756 trillion, from $8.784 trillion on March 22.

(Reporting by Michael S. Derby; Editing by Chris Reese)