WASHINGTON (AP) – The Federal Reserve says commercial banks and investment firms borrowed slightly less from its emergency lending program.

The Fed report shows commercial banks averaged $90.2 billion in daily borrowing over the week ending Wednesday. That was down from $90.3 billion in average daily borrowing logged over the week ended Dec. 3.

Investment firms drew $52.8 billion over the past week. That compared with an average of $57.2 billion the previous week.

This category was recently broadened to include any loans that were made to the U.S. and London-based broker-dealer subsidiaries of Goldman Sachs, Morgan Stanley and Merrill Lynch.

AP-ES-12-11-08 1631EST


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