Board of Governors of the Federal Reserve System

The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.

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Primary markets for short-term debt and the stabilizing effects of the PDCF, Accessible Data

Figure 1. Total PDCF Loans Outstanding ($ billion).

The chart displays the evolution of total loans outstanding at the Primary Dealers Credit Facility (PDCF), as of each Wednesday. Within a few days of the facility being opened on March 20, the primary dealers had borrowed over $30 billion from the facility. Usage stayed fairly steady for a few weeks and then began to decline around the end of April. By mid-May usage had dropped quite substantially as funding markets normalized.

Source: H.4.1 Release, Federal Reserve

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Last Update: June 21, 2021

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Primary markets for short-term debt and the stabilizing effects of the PDCF, Accessible Data

Figure 1. Total PDCF Loans Outstanding ($ billion).