by Calculated Risk on 8/22/2007 12:42:00 PM

From MarketWatch: U.S. banking giants borrow $2 bln from Fed

... Citigroup Inc., J.P. Morgan Chase, Bank of America and Wachovia Corp. said on Wednesday that they borrowed $2 billion from the Federal Reserve ...

Citibank said it took out a $500 million, 30-day loan from the New York Fed's discount window program for its clients. ... "Citibank stands ready to continue to access the discount window as client needs and market conditions warrant," the bank said in a statement.