Federal Reserve Economic Data

  • Percent, Daily, Not Seasonally Adjusted 2001-01-02 to 2024-10-25 (21 hours ago)

    For more information, please see http://www.federalreserve.gov/releases/cp/about.htm.

  • Percent, Daily, Not Seasonally Adjusted 2001-01-11 to 2011-01-14 (2011-01-18)

    Copyright, 2016, Haver Analytics. Reprinted with permission.

  • Percent, Weekly, Not Seasonally Adjusted 2001-01-19 to 2011-01-14 (2011-01-18)

    Averages of business days. Copyright, 2016, Haver Analytics. Reprinted with permission. Calculated from data provided by the Wall Street Journal.

  • Percent, Monthly, Not Seasonally Adjusted Feb 2001 to Dec 2010 (2011-01-03)

    Averages of business days. Copyright, 2016, Haver Analytics. Reprinted with permission. Calculated from data provided by the Wall Street Journal.

  • Percent, Monthly, Not Seasonally Adjusted Jul 2001 to Sep 2024 (Oct 1)

    Averages of business days. For further information regarding treasury constant maturity data, please refer to the H.15 Statistical Release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology).

  • Percent, Monthly, Not Seasonally Adjusted Jul 2001 to Sep 2024 (Oct 1)

    Averages of business days. Discount basis.

  • Percent, Monthly, Not Seasonally Adjusted Jul 2001 to Sep 2024 (Oct 15)

    OECD Data Filters: REF_AREA: MEX MEASURE: IRLT UNIT_MEASURE: PA ACTIVITY: _Z ADJUSTMENT: _Z TRANSFORMATION: _Z FREQ: M All OECD data should be cited as follows: OECD (year), (dataset name), (data source) DOI or https://data-explorer.oecd.org/ (https://data-explorer.oecd.org/). (accessed on (date)).

  • Percent, Daily, Not Seasonally Adjusted 2001-07-31 to 2024-10-25 (18 hours ago)

    Discount basis.

  • Percent, Daily, Not Seasonally Adjusted 2001-07-31 to 2024-10-25 (18 hours ago)

    For further information regarding treasury constant maturity data, please refer to the H.15 Statistical Release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology).

  • Percent, Weekly, Not Seasonally Adjusted 2001-08-03 to 2024-10-25 (18 hours ago)

    Averages of business days. Discount basis.

  • Percent, Weekly, Not Seasonally Adjusted 2001-08-03 to 2024-10-25 (18 hours ago)

    Averages of business days. For further information regarding treasury constant maturity data, please refer to the H.15 Statistical Release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology).

  • Percent, Monthly, Not Seasonally Adjusted Oct 2001 to Jul 2020 (2020-08-03)

    This series will no longer be updated. It has been replaced with DTP3HA32 (https://fred.stlouisfed.org/graph/?g=uHQf) that updates on a daily basis. Treasury Inflation-Protected Securities, or TIPS, are securities whose principal is tied to the Consumer Price Index (CPI). The principal increases with inflation and decreases with deflation. When the security matures, the U.S. Treasury pays the original or adjusted principal, whichever is greater. Monthly average of business days calculated by Federal Reserve Bank of St. Louis. Yield to maturity on accrued principal. Calculated from data provided by the Wall Street Journal. Copyright, 2016, Haver Analytics. Reprinted with permission.

  • Percent per Annum, Monthly, Not Seasonally Adjusted Oct 2001 to Aug 2024 (Oct 14)

    Notes regarding this series can be found in International Financial Statistics Yearbooks produced by the International Monetary Fund (IMF). We have requested these publications from the IMF. Notes on this series will populate once they become available. Copyright © 2016, International Monetary Fund. Reprinted with permission. Complete terms of use and contact details are available at http://www.imf.org/external/terms.htm.

  • Percent, Daily, Not Seasonally Adjusted 2001-10-15 to 2024-10-28 (3 hours ago)

    Yield to maturity on accrued principal. Treasury Inflation-Protected Securities, or TIPS, are securities whose principal is tied to the Consumer Price Index (CPI). The principal increases with inflation and decreases with deflation. When the security matures, the U.S. Treasury pays the original or adjusted principal, whichever is greater. Copyright, 2016, Haver Analytics. Reprinted with permission.

  • Percent, Weekly, Not Seasonally Adjusted 2001-10-19 to 2020-08-07 (2020-08-10)

    This series will no longer be updated. It has been replaced with DTP3HA32 ('https://fred.stlouisfed.org/graph/?g=uHQ6) that updates on a daily basis. Treasury Inflation-Protected Securities, or TIPS, are securities whose principal is tied to the Consumer Price Index (CPI). The principal increases with inflation and decreases with deflation. When the security matures, the U.S. Treasury pays the original or adjusted principal, whichever is greater. Weekly average of daily data calculated by the Federal Reserve Bank of St. Louis. Yield to maturity on accrued principal. Calculated from data provided by the Wall Street Journal. Copyright, 2016, Haver Analytics. Reprinted with permission.

  • Percent, Annual, Not Seasonally Adjusted 2002 to 2004 (2022-06-03)

    Averages of daily figures. The Federal Reserve Board has discontinued this series. For more information see the H.15 Statistical Release (https://www.federalreserve.gov/releases/h15/default.htm).

  • Percent, Annual, Not Seasonally Adjusted 2002 to 2023 (Apr 10)

    OECD Data Filters: REF_AREA: SVN MEASURE: IR3TIB UNIT_MEASURE: PA ACTIVITY: _Z ADJUSTMENT: _Z TRANSFORMATION: _Z FREQ: A All OECD data should be cited as follows: OECD (year), (dataset name), (data source) DOI or https://data-explorer.oecd.org/ (https://data-explorer.oecd.org/). (accessed on (date)).

  • Percent, Annual, Not Seasonally Adjusted 2002 to 2006 (Apr 19)

    OECD Descriptor ID: IRLTLT01 OECD unit ID: PC OECD country ID: MEX All OECD data should be cited as follows: OECD, "Main Economic Indicators - complete database", Main Economic Indicators (database), https://dx.doi.org/10.1787/data-00052-en (Accessed on date) Copyright, 2016, OECD. Reprinted with permission

  • Percent, Monthly, Not Seasonally Adjusted Jan 2002 to Sep 2024 (Oct 15)

    OECD Data Filters: REF_AREA: SVN MEASURE: IR3TIB UNIT_MEASURE: PA ACTIVITY: _Z ADJUSTMENT: _Z TRANSFORMATION: _Z FREQ: M All OECD data should be cited as follows: OECD (year), (dataset name), (data source) DOI or https://data-explorer.oecd.org/ (https://data-explorer.oecd.org/). (accessed on (date)).

  • Percent, Quarterly, Not Seasonally Adjusted Q1 2002 to Q3 2024 (Oct 15)

    OECD Data Filters: REF_AREA: SVN MEASURE: IR3TIB UNIT_MEASURE: PA ACTIVITY: _Z ADJUSTMENT: _Z TRANSFORMATION: _Z FREQ: Q All OECD data should be cited as follows: OECD (year), (dataset name), (data source) DOI or https://data-explorer.oecd.org/ (https://data-explorer.oecd.org/). (accessed on (date)).

  • Percent, Quarterly, Not Seasonally Adjusted Q1 2002 to Q3 2024 (Oct 15)

    OECD Data Filters: REF_AREA: MEX MEASURE: IRLT UNIT_MEASURE: PA ACTIVITY: _Z ADJUSTMENT: _Z TRANSFORMATION: _Z FREQ: Q All OECD data should be cited as follows: OECD (year), (dataset name), (data source) DOI or https://data-explorer.oecd.org/ (https://data-explorer.oecd.org/). (accessed on (date)).

  • Percent, Daily, Not Seasonally Adjusted 2002-01-10 to 2012-01-13 (2012-01-17)

    Yield to maturity on accrued principal. Treasury Inflation-Protected Securities, or TIPS, are securities whose principal is tied to the Consumer Price Index (CPI). The principal increases with inflation and decreases with deflation. When the security matures, the U.S. Treasury pays the original or adjusted principal, whichever is greater. Copyright, 2016, Haver Analytics. Reprinted with permission.

  • Percent, Weekly, Not Seasonally Adjusted 2002-01-18 to 2012-01-13 (2012-01-17)

    Treasury Inflation-Protected Securities, or TIPS, are securities whose principal is tied to the Consumer Price Index (CPI). The principal increases with inflation and decreases with deflation. When the security matures, the U.S. Treasury pays the original or adjusted principal, whichever is greater. Averages of business days. Yield to maturity on accrued principal. Calculated from data provided by the Wall Street Journal. Copyright, 2016, Haver Analytics. Reprinted with permission.

  • Percent, Monthly, Not Seasonally Adjusted Feb 2002 to May 2004 (2022-06-06)

    Based on the unweighted average of the bid yields for all Treasury fixed-coupon securities with remaining terms to maturity of 25 years and over. Averages of business days. For further information, please refer to http://www.federalreserve.gov/releases/h15/treas_long-term_rate_discontinuence.htm.

  • Percent, Monthly, Not Seasonally Adjusted Feb 2002 to Dec 2011 (2012-01-03)

    Treasury Inflation-Protected Securities, or TIPS, are securities whose principal is tied to the Consumer Price Index (CPI). The principal increases with inflation and decreases with deflation. When the security matures, the U.S. Treasury pays the original or adjusted principal, whichever is greater. Averages of business days. Yield to maturity on accrued principal. Calculated from data provided by the Wall Street Journal. Copyright, 2016, Haver Analytics. Reprinted with permission.

  • Percent, Daily, Not Seasonally Adjusted 2002-02-19 to 2004-05-28 (2004-06-02)

    Based on the unweighted average of the bid yields for all Treasury fixed-coupon securities with remaining terms to maturity of 25 years and over. For further information, please refer to http://www.federalreserve.gov/releases/h15/treas_long-term_rate_discontinuence.htm.

  • Percent, Weekly, Not Seasonally Adjusted 2002-02-22 to 2004-05-28 (2006-08-16)

    Based on the unweighted average of the bid yields for all Treasury fixed-coupon securities with remaining terms to maturity of 25 years and over. Averages of business days. For further information, please refer to http://www.federalreserve.gov/releases/h15/treas_long-term_rate_discontinuence.htm.

  • Percent, Monthly, Not Seasonally Adjusted Mar 2002 to Nov 2023 (Jan 12)

    OECD Descriptor ID: IRSPTT01 OECD unit ID: PC OECD country ID: SVN All OECD data should be cited as follows: OECD, "Main Economic Indicators - complete database", Main Economic Indicators (database), https://dx.doi.org/10.1787/data-00052-en (Accessed on date) Copyright, 2016, OECD. Reprinted with permission

  • Percent, Monthly, Not Seasonally Adjusted Mar 2002 to Sep 2024 (Oct 15)

    OECD Data Filters: REF_AREA: SVN MEASURE: IRLT UNIT_MEASURE: PA ACTIVITY: _Z ADJUSTMENT: _Z TRANSFORMATION: _Z FREQ: M All OECD data should be cited as follows: OECD (year), (dataset name), (data source) DOI or https://data-explorer.oecd.org/ (https://data-explorer.oecd.org/). (accessed on (date)).

  • Percent, Quarterly, Not Seasonally Adjusted Q2 2002 to Q2 2024 (Sep 16)

    OECD Data Filters: REF_AREA: JPN MEASURE: IR3TIB UNIT_MEASURE: PA ACTIVITY: _Z ADJUSTMENT: _Z TRANSFORMATION: _Z FREQ: Q All OECD data should be cited as follows: OECD (year), (dataset name), (data source) DOI or https://data-explorer.oecd.org/ (https://data-explorer.oecd.org/). (accessed on (date)).

  • Percent, Quarterly, Not Seasonally Adjusted Q2 2002 to Q3 2024 (Oct 15)

    OECD Data Filters: REF_AREA: SVN MEASURE: IRLT UNIT_MEASURE: PA ACTIVITY: _Z ADJUSTMENT: _Z TRANSFORMATION: _Z FREQ: Q All OECD data should be cited as follows: OECD (year), (dataset name), (data source) DOI or https://data-explorer.oecd.org/ (https://data-explorer.oecd.org/). (accessed on (date)).

  • Percent, Monthly, Not Seasonally Adjusted Apr 2002 to Aug 2024 (Oct 15)

    OECD Data Filters: REF_AREA: JPN MEASURE: IR3TIB UNIT_MEASURE: PA ACTIVITY: _Z ADJUSTMENT: _Z TRANSFORMATION: _Z FREQ: M All OECD data should be cited as follows: OECD (year), (dataset name), (data source) DOI or https://data-explorer.oecd.org/ (https://data-explorer.oecd.org/). (accessed on (date)).

  • Percent, Daily, Not Seasonally Adjusted 2002-08-01 to 2012-07-13 (2012-07-16)

    Yield to maturity on accrued principal. Treasury Inflation-Protected Securities, or TIPS, are securities whose principal is tied to the Consumer Price Index (CPI). The principal increases with inflation and decreases with deflation. When the security matures, the U.S. Treasury pays the original or adjusted principal, whichever is greater. Copyright, 2016, Haver Analytics. Reprinted with permission.

  • Percent, Monthly, Not Seasonally Adjusted Aug 2002 to Jun 2012 (2012-07-02)

    Treasury Inflation-Protected Securities, or TIPS, are securities whose principal is tied to the Consumer Price Index (CPI). The principal increases with inflation and decreases with deflation. When the security matures, the U.S. Treasury pays the original or adjusted principal, whichever is greater. Averages of business days. Yield to maturity on accrued principal. Calculated from data provided by the Wall Street Journal. Copyright, 2016, Haver Analytics. Reprinted with permission.

  • Percent, Weekly, Not Seasonally Adjusted 2002-08-09 to 2012-07-13 (2012-07-16)

    Treasury Inflation-Protected Securities, or TIPS, are securities whose principal is tied to the Consumer Price Index (CPI). The principal increases with inflation and decreases with deflation. When the security matures, the U.S. Treasury pays the original or adjusted principal, whichever is greater. Averages of business days. Yield to maturity on accrued principal. Calculated from data provided by the Wall Street Journal. Copyright, 2016, Haver Analytics. Reprinted with permission.

  • Percent, Annual, Not Seasonally Adjusted 2003 to 2023 (2024-01-02)

    Averages of daily figures. For further information regarding treasury constant maturity data, please refer to the H.15 Statistical release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology).

  • Percent, Annual, Not Seasonally Adjusted 2003 to 2023 (2024-01-02)

    Averages of daily figures. For further information regarding treasury constant maturity data, please refer to the H.15 Statistical release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology).

  • Percent, Annual, Not Seasonally Adjusted 2003 to 2023 (2024-01-02)

    Averages of daily figures. For further information regarding treasury constant maturity data, please refer to the H.15 Statistical release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology).

  • Percent, Annual, Not Seasonally Adjusted 2003 to 2023 (Apr 10)

    OECD Descriptor ID: IRLTLT01 OECD unit ID: PC OECD country ID: SVN All OECD data should be cited as follows: OECD, "Main Economic Indicators - complete database", Main Economic Indicators (database), https://dx.doi.org/10.1787/data-00052-en (Accessed on date) Copyright, 2016, OECD. Reprinted with permission

  • Percent, Annual, Not Seasonally Adjusted 2003 to 2023 (Apr 10)

    OECD Descriptor ID: IR3TIB01 OECD unit ID: PC OECD country ID: JPN All OECD data should be cited as follows: OECD, "Main Economic Indicators - complete database", Main Economic Indicators (database), https://dx.doi.org/10.1787/data-00052-en (Accessed on date) Copyright, 2016, OECD. Reprinted with permission

  • Percent, Quarterly, Not Seasonally Adjusted Q1 2003 to Q2 2024 (Jul 15)

    OECD Data Filters: REF_AREA: COL MEASURE: IRLT UNIT_MEASURE: PA ACTIVITY: _Z ADJUSTMENT: _Z TRANSFORMATION: _Z FREQ: Q All OECD data should be cited as follows: OECD (year), (dataset name), (data source) DOI or https://data-explorer.oecd.org/ (https://data-explorer.oecd.org/). (accessed on (date)).

  • Percent, Monthly, Not Seasonally Adjusted Jan 2003 to Sep 2024 (Oct 1)

    View data of the inflation-adjusted interest rates on 10-year Treasury securities with a constant maturity.

  • Percent, Monthly, Not Seasonally Adjusted Jan 2003 to Sep 2024 (Oct 1)

    For further information regarding treasury constant maturity data, please refer to the H.15 Statistical Release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology).

  • Percent, Monthly, Not Seasonally Adjusted Jan 2003 to Sep 2024 (Oct 1)

    For further information regarding treasury constant maturity data, please refer to the H.15 Statistical Release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology).

  • Percent, Monthly, Not Seasonally Adjusted Jan 2003 to Sep 2024 (Oct 1)

    View the average 10-year expectation for the inflation rate among market participants, based upon Treasury securities.

  • Percent, Monthly, Not Seasonally Adjusted Jan 2003 to Sep 2024 (Oct 1)

    The breakeven inflation rate represents a measure of expected inflation derived from 5-Year Treasury Constant Maturity Securities (BC_5YEAR) and 5-Year Treasury Inflation-Indexed Constant Maturity Securities (TC_5YEAR). The latest value implies what market participants expect inflation to be in the next 5 years, on average. Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

  • Percent, Monthly, Not Seasonally Adjusted Jan 2003 to Sep 2024 (Oct 1)

    View a measure of the average expected inflation over the five-year period that begins five years from the date data are reported.

  • Percent, Monthly, Not Seasonally Adjusted Jan 2003 to Aug 2024 (Oct 15)

    OECD Data Filters: REF_AREA: COL MEASURE: IRLT UNIT_MEASURE: PA ACTIVITY: _Z ADJUSTMENT: _Z TRANSFORMATION: _Z FREQ: M All OECD data should be cited as follows: OECD (year), (dataset name), (data source) DOI or https://data-explorer.oecd.org/ (https://data-explorer.oecd.org/). (accessed on (date)).

  • Percent, Daily, Not Seasonally Adjusted 2003-01-02 to 2024-10-25 (18 hours ago)

    View data of the inflation-adjusted interest rates on 10-year Treasury securities with a constant maturity.

  • Percent, Daily, Not Seasonally Adjusted 2003-01-02 to 2024-10-25 (18 hours ago)

    For further information regarding treasury constant maturity data, please refer to the H.15 Statistical Release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology).

  • Percent, Daily, Not Seasonally Adjusted 2003-01-02 to 2024-10-25 (18 hours ago)

    For further information regarding treasury constant maturity data, please refer to the H.15 Statistical Release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology).

  • Percent, Daily, Not Seasonally Adjusted 2003-01-02 to 2024-10-28 (17 hours ago)

    View the average 10-year expectation for the inflation rate among market participants, based upon Treasury securities.

  • Percent, Daily, Not Seasonally Adjusted 2003-01-02 to 2024-10-28 (17 hours ago)

    The breakeven inflation rate represents a measure of expected inflation derived from 5-Year Treasury Constant Maturity Securities (BC_5YEAR) and 5-Year Treasury Inflation-Indexed Constant Maturity Securities (TC_5YEAR). The latest value implies what market participants expect inflation to be in the next 5 years, on average. Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).

  • Percent, Daily, Not Seasonally Adjusted 2003-01-02 to 2024-10-28 (17 hours ago)

    View a measure of the average expected inflation over the five-year period that begins five years from the date data are reported.

  • Percent, Weekly, Not Seasonally Adjusted 2003-01-03 to 2024-10-25 (18 hours ago)

    View data of the inflation-adjusted interest rates on 10-year Treasury securities with a constant maturity.

  • Percent, Weekly, Not Seasonally Adjusted 2003-01-03 to 2024-10-25 (18 hours ago)

    For further information regarding treasury constant maturity data, please refer to the H.15 Statistical Release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology).

  • Percent, Weekly, Not Seasonally Adjusted 2003-01-03 to 2024-10-25 (18 hours ago)

    For further information regarding treasury constant maturity data, please refer to the H.15 Statistical Release notes (https://www.federalreserve.gov/releases/h15/default.htm) and the Treasury Yield Curve Methodology (https://home.treasury.gov/policy-issues/financing-the-government/interest-rate-statistics/treasury-yield-curve-methodology).

  • Percent, Not Applicable, Not Seasonally Adjusted 2003-01-09 to 2024-09-19 (Sep 19)

    Effective Date Please refer to https://www.frbdiscountwindow.org/ for further information.

  • Percent, Daily, Not Seasonally Adjusted 2003-01-09 to 2024-10-25 (18 hours ago)

    This data represent rate charged for discounts made and advances extended under the Federal Reserve's primary credit discount window program (https://www.frbdiscountwindow.org/), which became effective January 9, 2003. Primary credit is available to generally sound depository institutions at a rate set relative to the Federal Open Market Committee's (FOMC) target range for the federal funds rate. Depository institutions are not required to seek alternative sources of funds before requesting advances of primary credit. Primary credit may be used for any purpose, including financing the sale of federal funds. By making funds readily available at the primary credit rate the primary credit program complements open market operations in the implementation of monetary policy. Reserve Banks ordinarily do not require depository institutions to provide reasons for requesting very short-term primary credit. Rather, borrowers are asked to provide only the minimum information necessary to process a loan, usually the amount and term of the loan. This rate replaces that for adjustment credit, which was discontinued after January 8, 2003. For further information, see Board of Governor's announcement (https://www.federalreserve.gov/boarddocs/press/bcreg/2002/200210312/). The rate reported is that for the Federal Reserve Bank of New York.

  • Percent, Daily, Not Seasonally Adjusted 2003-01-09 to 2024-10-25 (18 hours ago)

    This data represent rate charged for discounts made and advances extended under the Federal Reserve's primary credit discount window program (https://www.frbdiscountwindow.org/), which became effective January 9, 2003. Primary credit is available to generally sound depository institutions at a rate set relative to the Federal Open Market Committee's (FOMC) target range for the federal funds rate. Depository institutions are not required to seek alternative sources of funds before requesting advances of primary credit. Primary credit may be used for any purpose, including financing the sale of federal funds. By making funds readily available at the primary credit rate the primary credit program complements open market operations in the implementation of monetary policy. Reserve Banks ordinarily do not require depository institutions to provide reasons for requesting very short-term primary credit. Rather, borrowers are asked to provide only the minimum information necessary to process a loan, usually the amount and term of the loan. This rate replaces that for adjustment credit, which was discontinued after January 8, 2003. For further information, see Board of Governor's announcement (https://www.federalreserve.gov/boarddocs/press/bcreg/2002/200210312/). The rate reported is that for the Federal Reserve Bank of New York.


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