Snapshot for Federal Reserve US Primary Credit Discount Rate (DISCPRIM)

Rate Profile Information for DISCPRIM

The discount rate is the interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank's lending facility -- the discount window. Under the primary credit program, loans are extended for a very short term (usually overnight) to depository institutions in generally sound financial condition. Depository institutions that are not eligible for primary credit may apply for secondary credit to meet short-term liquidity needs or to resolve severe financial difficulties. The rate charged for primary credit is under an amendment to the Board's Regulation A, which became effective January 9, 2003. This rate replaces that for adjustment credit {DISCRATE }, which was discontinued after January 8, 2003.{NSN H8BG2E0YHQ0X}