Citi tapped Fed window 278 times during crisis

WASHINGTON (BestGrowthStock) – Citigroup Inc (C.N: ) sought help from a Federal Reserve program for Wall Street dealers 278 times during the financial crisis, according to data released by the U.S. central bank on Wednesday.

Citigroup borrowed as much as $18.63 billion from the Fed’s Primary Dealer Credit Facility.

Merrill Lynch, the investment bank acquired by Bank of America Corp (BAC.N: ), tapped the emergency lending program 225 times and borrowed as much as $33.2 billion during the crisis.

(Reporting by Rachelle Younglai, Pedro da Costa, Glenn Somerville, Editing by Chizu Nomiyama)

Citi tapped Fed window 278 times during crisis