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• Some big New York banks are expected to borrow needed funds at the Fed's discount window instead of through the market.
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The Fed has used its discount window to pump out billions of dollars in direct loans to keep the financial system operating.
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• Some big New York banks are expected to borrow needed funds at the Fed's discount window instead of through the market.
* * *
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The Fed has used its discount window to pump out billions of dollars in direct loans to keep the financial system operating.
The Federal Reserve has 3 rates that it charges financial institutions for using the discount window. The primary credit rate is a short-term rate charged for the most financially secure financial institutions. The secondary credit rate is a short rate that is charged for financial institutions that do not qualify for the primary rate. The seasonal credit rate is charged for debt obligations that last up to 9 months.
The Federal Reserve may lower the discount rate and/or make temporary changes to the terms of the loans in order to make the discount window a more attractive source for financial institutions to borrow from in times of financial distress.
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Возможность переучета векселей, предоставляемая центральным банком (в США ФРС) коммерческим банкам.