Investing.com -- Bank borrowing from the Federal Reserve's emergency lending programs rose slightly for the week ended Aug. 9.
In the week ended Aug. 9, total lending from the two Fed backstop lending programs rose to $108.78 billion from $107.58B in the prior week.
Banks borrowed an average of $1.91B each night, up from $1.90B from a week earlier, according to the Fed data.
Borrowing from the Fed’s Bank Term Funding Program rose to $106.86B from $105.68B in the prior week, which was a record high for the new emergency lending program launched following the collapse of Silicon Valley Bank earlier this year.
Lending to the Federal Deposit Insurance Corporation, which took over the collapsed Silicon Valley Bank, fell to $145.41B from $148.07B.