Four big banks draw funds from Fed window

Four major US banks announced Wednesday they had borrowed 500 million dollars each from the Federal Reserve discount window, saying it would help increase financial market liquidity.
"It is important at this time to take a leadership role in demonstrating the potential value of the Fed''s primary credit facility and to encourage its use by other financial institutions," three banks - Bank of America, J.P. Morgan Chase and Wachovia - said in a statement.