Reuters:
U.S. financial institutions ran to the lender of last resort for arecord amount of cash in the latest week, under extreme strain from theworst global financial crisis in a generation, Federal Reserve datashowed on Thursday.
Banks and dealers' overall direct borrowings from the Fed averaged arecord $437.53 billion per day in the week ended October 15, toppingthe previous week's $420.16 billion per day.
Primary credit discount window borrowings averaged a record $99.66billion per day in the latest week, up from $75.0 billion per day theprevious week.
