Fed loans: Investment firms borrowing less

May 1, 2008 1:42:50 PM PDT
The big Wall Street investment companies aren't borrowing quite as much from the Federal Reserve's emergency lending program. A report from the fed released Thursday says the firms averaged $18.6 billion in daily borrowing this past week. That compared with $22.6 billion in the previous week.

The program began on March 17th. It's one of several extraordinary actions the Fed has taken recently to limit the damage from a trio of crises; housing, credit and financial.