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Index type: FRS discount rate, % |
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Index: FRS discount rate, %
Organization responsible for index calculation: The Federal Reserve System
Index description
The Federal Reserve System directly sets the discount rate, which is the interest rate for "discount window lending", overnight loans that member banks borrow directly from the Fed. This rate is generally set at a rate close to 100 basis points above the target federal funds rate. The idea is to encourage banks to seek alternative funding before using the "discount rate" option
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