Recently, banks have borrowed a bit more from the emergency lending program of the Federal Reserve. Almost a billion dollars more were averaged in daily borrowing last week compared to the week before, but these levels are still quite low.
With the slight improvement of financial conditions, banks have chosen to scale back their overall use of the emergency discount loan of the Federal Reserve. The peak of this particular crisis hit $110 billion that was borrowed daily by banks, showing how serious trouble was becoming in obtaining loans via regular channels of the private market. Such banks only pay .5% on emergency loans.