Banks and thrifts borrowed $53 billion in advances from their Federal Home Loan Banks in September, down from $110 billion in August at the height of the credit crunch.Members of the Boston FHLBank borrowed $13.3 billion in advances last month. The New York FHLBank reported that its advances were up $8 billion, and the Cincinnati FHLBank experienced a $1.8 billion increase in advances. The heaviest borrowing activity is expected to be at the San Francisco FHLBank, which made $53 billion in advances during July and August. However, a spokeswoman for the bank said it does not plan to disclose the September advances until it reports third-quarter results. As of Sept. 30, the 12 FHLBanks held $822 billion in advances, up 28.4% from the level recorded as of June 30. Demand for advances was relatively flat during the first six months of the year.

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