NEW YORK, Nov 28 (Reuters) - U.S. banks' direct borrowing from the Federal Reserve at the discount window fell in the latest week, while the Federal Reserve's presence in commercial paper market rose, Fed data showed on Friday. Banks' overall borrowings averaged $283.18 billion per day in the week ended Nov. 26, versus an average $296.82 billion per day the week before. Banks' primary credit discount window borrowings averaged $93.63 billion per day in the latest week, versus $91.55 billion the previous week. Net portfolio holdings of the Fed's Commercial Paper Funding Facility, which is buying three-month top-rated CP to free up this key area of short term lending, were $294.09 billion as of Nov. 26, versus $270.88 billion on Nov. 19. Primary dealer and other broker dealer borrowings were $57.89 billion as of Nov. 26, versus $46.61 billion on Nov. 19. Credit extended to American International Group, Inc. -- a new category in this week's Fed release -- averaged $79.59 billion per day in the week ended Nov. 26. The Fed's lending to banks to enable them to purchase asset-backed commercial paper from money market mutual funds was $53.31 billion as of Nov. 26, versus $61.92 billion on Nov. 19. Proceeds from the U.S. Treasury's sales of Treasury bills in the Fed's supplementary financing account, which are helping to fund the Fed's support of financial institutions, were $479.05 billion as of Nov. 26, versus $508.96 billion as of Nov. 19. The Fed's balance sheet liabilities were $2.091 trillion on Nov. 26 versus $2.171 trillion on Nov. 19. (Reporting by Chris Reese) http://www.reuters.com/article/bondsNews/idUSNYD00036020081128
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