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WASHINGTON — Banks reduced their borrowing from a Federal Reserve emergency lending program for the third straight week, a sign the institutions are having an easier time getting credit from private markets.
The Fed said Thursday that commercial banks averaged $30 billion in daily borrowing over the week that ended Wednesday. That’s down from $30.7 billion in the week ended Aug. 19.
At the height of the financial crisis last fall, investors cut banks off and shifted money into safer Treasury securities.
