WASHINGTON — Lending through the Federal Reserve Board's discount window fell less than 1% during the past week, to nearly $123 billion.

Traditional borrowing from commercial banks grew 3.4%, to $36.6 billion and there were no loans to weak financial institutions.

Borrowing against asset-backed commercial paper held by money market mutual funds fell 7.9%, to $18.6 billion.

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

Separate from the discount window, the Fed purchased $132.1 billion in commercial paper by Wednesday, a 4.6% decline from a week earlier.

Reserves held by financial institutions at the central bank fell 8.8%, to almost $744 billion. The Fed's balance sheet shrank nearly 1%, to $2.07 trillion.

Meanwhile, the Federal Reserve Bank of New York purchased $23.1 billion in mortgage-backed securities from the government-sponsored enterprises over the past week: $12.4 billion from Fannie Mae; $7 billion from Freddie Mac and $3.7 billion from Ginnie Mae.

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