Annual Report 2014

Statistical Table 3

Table 3. Federal Reserve Bank interest rates on loans to depository institutions, December 31, 2014
Percent

Reserve Bank	Primary credit	Secondary credit	Seasonal credit
All banks	0.75	1.25	0.15

Note: For details on rate changes over the course of 2014, see the section on discount rates in "Record of Policy Actions of the Board of Governors." Primary credit is available for very short terms as a backup source of liquidity to depository institutions that are in generally sound financial condition in the judgment of the lending Federal Reserve Bank. Secondary credit is available in appropriate circumstances to depository institutions that do not qualify for primary credit. Seasonal credit is available to help relatively small depository institutions meet regular seasonal needs for funds that arise from a clear pattern of intra-yearly movements in their deposits and loans. The discount rate on seasonal credit takes into account rates charged by market sources of funds and is reestablished on the first business day of each two-week reserve maintenance period.

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