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Home > Releases > H.4.1 Factors Affecting Reserve Balances > Reserve Bank Credit - Loans to Depository Institutions - Secondary Credit (WSC)

Reserve Bank Credit - Loans to Depository Institutions - Secondary Credit (WSC)

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Units:  Levels | Chg. | Chg. from Yr. Ago | % Chg. | % Chg. from Yr. Ago | Comp. Annual Rate of Chg. | Cont. Comp. Rate of Chg. | Cont. Comp. Annual Rate of Chg.
Notes: Growth Rate Calculations | US recession dates
  Real-Time Period
Title Start     End     

Reserve Bank Credit - Loans to Depository Institutions - Secondary Credit 2008-12-18 Current
 
Source    

Board of Governors of the Federal Reserve System 2008-12-18 Current
 
Release    

H.4.1 Factors Affecting Reserve Balances 2008-12-18 Current
 
Units    

Billions of Dollars 2008-12-18 Current
 
Frequency    

Weekly, Ending Wednesday 2008-12-18 Current
 
Seasonal Adjustment    

Not Seasonally Adjusted 2008-12-18 Current
 
Notes    

Secondary credit is a lending program 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 50 basis points above the primary credit rate. In contrast to primary credit, there are restrictions on the uses for secondary credit extensions. 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. Moreover, the secondary credit program entails a higher level of Reserve Bank administration and oversight than the primary credit program. Reserve Banks typically apply higher haircuts on collateral pledged to secure secondary credit. In addition, the liquidity position of secondary credit borrowers is monitored closely and the Federal Reserve typically is in close contact with the borrower's primary federal regulator.

2008-12-18 Current
 

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Money, Banking, & Finance > Monetary Data > Factors Affecting Reserve Balances


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