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Home > Releases > H.3 Aggregate Reserves of Depository Institutions and the Monetary Base > Borrowings From The Federal Reserve, Secondary (SECBORR)

Borrowings From The Federal Reserve, Secondary (SECBORR)

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Borrowings From The Federal Reserve, Secondary 2013-07-11 Current
 
Source    

Board of Governors of the Federal Reserve System 2013-07-11 Current
 
Release    

H.3 Aggregate Reserves of Depository Institutions and the Monetary Base 2013-07-11 Current
 
Units    

Millions of Dollars 2013-07-11 Current
 
Frequency    

Monthly 2013-07-11 Current
 
Seasonal Adjustment    

Not Seasonally Adjusted 2013-07-11 Current
 
Notes    

Secondary credit is available to depository institutions that are not eligible for primary credit. It is extended on a very short-term basis, typically overnight, at a rate that is above the primary credit rate. Secondary credit is available to meet backup liquidity needs when its use is consistent with a timely return to a reliance on market sources of funding or the orderly resolution of a troubled institution. Secondary credit may not be used to fund an expansion of the borrower's assets. The secondary credit program entails a higher level of Reserve Bank administration and oversight than the primary credit program. A Reserve Bank must have sufficient information about a borrower's financial condition and reasons for borrowing to ensure that an extension of secondary credit would be consistent with the purpose of the facility.

2013-07-11 Current
 

Related Categories

Money, Banking, & Finance > Monetary Data > Borrowings


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