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Borrowings From The Federal Reserve, Secondary

2015-09: 0 Millions of Dollars  
Monthly, Not Seasonally Adjusted, SECBORR, Updated: 2015-10-01 3:47 PM CDT
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Secondary credit is 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 above the primary credit rate. 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. The secondary credit program entails a higher level of Reserve Bank administration and oversight than the primary credit program. A Reserve Bank must have sufficient information about a borrower's financial condition and reasons for borrowing to ensure that an extension of secondary credit would be consistent with the purpose of the facility.

Source: Board of Governors of the Federal Reserve System (US)

Release: H.3 Aggregate Reserves of Depository Institutions and the Monetary Base

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(a) Borrowings From The Federal Reserve, Secondary, Millions of Dollars, Not Seasonally Adjusted (SECBORR)
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Suggested Citation
Board of Governors of the Federal Reserve System (US), Borrowings From The Federal Reserve, Secondary [SECBORR], retrieved from FRED, Federal Reserve Bank of St. Louis, October 8, 2015.

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