California

U.S. Regional Data(MSAs) from Federal Financial Institutions Examination Council NOTE- data series are discontinued at source since 2020Q3

Federal Reserve lending to depository institutions (the “discount window”) plays an important role in supporting the liquidity and stability of the banking system and the effective implementation of monetary policy.  By providing ready access to funding, the discount window helps depository institutions manage their liquidity risks efficiently and avoid actions that have negative consequences for their customers, such as withdrawing credit during times of market stress.  Thus, the discount window supports the smooth flow of credit to households and businesses.  Providing liquidity in this way is one of the original purposes of the Federal Reserve System and other central banks around the world.  The purpose of this information is to clarify the policies that govern the use of Federal Reserve credit and describe Federal Reserve lending programs. Discount Window policies and programs have evolved in response to the changing needs of the economy and financial system. For Example, the primary and secondary credit programs replaced the adjustment credit and extended credit programs effective January 9, 2003. The primary credit program is the principal safety valve for ensuring adequate liquidity in the banking system and a backup source of short-term funds for generally sound depository institutions. Most depository institutions qualify for primary credit. Secondary credit is available to meet backup funding needs of depository institutions that do not qualify for primary credit. Seasonal credit is available to depository institutions that can demonstrate a clear pattern of recurring intra-yearly swings in funding needs. As always, Discount Window loans must be secured by collateral acceptable to the lending Reserve Bank.