Interest rates applicable to credit extended by a Federal Reserve Bank.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (d) (i) In a financial emergency the Reserve Bank has established the primary credit rate at that rate; and (ii) The Chairman of the Board of Governors (or, in the Chairman's absence, his authorized designee) certifies that a quorum of the Board is not available to act on the Reserve Bank's rate establishment. (2) For purposes of this paragraph (d), a financial emergency is a significant disruption to the U.S. money markets resulting from an act of war, military or terrorist attack, natural disaster, or other catastrophic event. (e)

official document · source cfr-2024 · id 12:§ 201.51