NEW YORK -- Citigroup, the largest U.S. bank, said on Wednesday it has borrowed $500 million directly from the Federal Reserve using the central bank's discount window program.
The bank said it accessed the window on behalf of clients, and that it intends to continue to access the discount window as market conditions warrant.
Deutsche Bank late last week borrowed funds from the Fed, the Financial Times reported on Monday.
© Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters.
Editor's note:
Bernanke Reveals `Fiscal Crisis` Ahead
Will the Liquidity Crisis Sink Your Stocks? 12 Ways to Profit.
Buffett Says This Book Made Him Billions
