WASHINGTON — With a credit crunch gripping the industry, bankers looking to stash money in a safe place have been shoveling funds into the Federal Reserve, where excess reserving reached an average of $68.8 billion between Sept. 11 and Sept. 24.

That was up from an average of just $2.26 billion two weeks earlier, from late August to mid-September. In fact, before last month the highest excess reserves — money beyond the amount banks must keep on account at the Fed — reached all year was $2.99 billion in March.

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