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

Borrowings From The Federal Reserve, Secondary (SECBORRW)

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

Board of Governors of the Federal Reserve System (US) 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    

Weekly, Ending Wednesday 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.

Effective February 2, 1984, reserve computation and maintenance periods have been changed from weekly to bi-weekly. Series with data prior to February 2, 1984 have different values reported from one week to the next. After February 2, 1984, the value repeats for 2 consecutive weeks.

2013-07-11 Current
 

Related Categories

Money, Banking, & Finance > Monetary Data > Borrowings


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