Rates Current as of Friday February 10, 2012

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 window borrowing, and reserve requirements. The Fed Funds rate will vary from depository institution and fluctuate day to day.

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

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