Banks trimmed borrowing from the Federal Reserve for the second week in a row, another sign the U.S. financial system has stabilized.
The numbers: Banks trimmed borrowing from the Federal Reserve for the second week in a row, as stress in the financial system appeared to ease further almost a month after the surprising collapse of Silicon Valley Bank.
Financial institutions drew $149 billion in credit in the week ended April 5, based on the Fed’s weekly H.4.1. survey. That’s down from $154 billion last week and $164 billion two weeks ago. The Fed lent an additional $79 billion from a new Bank Term Funding Program set up to prevent further bank runs and failures. That was up almost $15 billion from the prior week.
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