WASHINGTON — Lending through the Federal Reserve Board's discount window was virtually flat over the past week, budging up 0.5%, to $124.2 billion.

Traditional borrowing from commercial banks grew 10.6%, to $42.1 billion and there were no loans to weak financial institutions.

That was offset by an 8.9% decline in borrowing against asset-backed commercial paper held by money market mutual funds, which fell to $23.6 billion.

Investment banks continued to abstain from the discount window for the fourth week in a row.

Separate from the discount window, the Fed purchased $142.6 billion in commercial paper, a 4.5% decline from a week earlier.

Reserves held by financial institutions at the central bank fell 3.7%, to $844.7 billion. The Fed's balance sheet shrank 0.1%, to $2.1 trillion.

Meanwhile, the Federal Reserve Bank of New York purchased $27.7 billion in mortgage backed securities from the government-sponsored enterprises over the past week: $19.8 billion from Fannie Mae; $5 billion from Freddie Mac and $2.9 billion from Ginnie Mae.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.