The Board of Governors of the Federal Reserve System (FED) has made a publication in the Federal Register to announce the adoption of final amendments to its Regulation A to increase the rate for primary credit (overnight credit) at each Federal Reserve Bank. The secondary credit rate for those institutions not qualifying for the primary rate is thereby increased implicitly as well by a set formula referencing the primary rate (plus 50 basis points).
The following amendments to 12 CFR Part 201 – which governs the borrowing by depository institutions and other financial institutions at the Federal Reserve discount window – have been made:
(a) Primary credit: The interest rate at each Federal Reserve Bank for primary credit provided to depository institutions under § 201.4(a) is set to 5.25 percent.
(b) Secondary credit: The interest rate at each Federal Reserve Bank for secondary credit provided to depository institutions under 201.4(b) is set to 5.75 percent.
Regulation A: Extensions of Credit by Federal Reserve Banks
ID
23202
Other Features
banks
interest rate
loan
Date Published: 2023-05-11
Date Taking Effect: 2023-05-11
Regulatory Framework: Federal Reserve Act
Regulatory Type: regulation
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