US banks continue to use the Federal Reserve’s emergency lending facility, the Bank Term Funding Program, to meet withdrawal needs after bank failures shook the global banking system.

Fed loans increased to $105.7 billion, while the discount window borrowed $1.9 billion, down from $2.2 billion.

The best selling factor of the new program was borrowing against collateral at face value, with 22% of domestic banks borrowing and 55% signing up or posting collateral.

After the spring upheaval, over 80% of banks remained unaffected, with banks gradually reducing discount window use and increasing new program loans.