Rates Current as of Thursday February 09, 2012

The discount rate is the rate at which eligible depository institutions may borrow funds from the Federal Reserve.

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What is the Fed Funds rate and how is that determined?

The Fed Funds rate is the rate that one depository institution charges another for overnight funds that are available from excess reserves. The Federal Reserve does not set this rate, but does establish a target. The target is essentially manipulated by using various tools of monetary policy such as; open market operations, discount

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