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8.3 Access to Fed Discount Window and Similar Borrowing Privileges

<< Title VIII Overview

8.3 Access to Fed Discount Window and Similar Borrowing Privileges

 

 


8.3        Access to Fed Discount Window and Similar Borrowing Privileges.  In a tool intended to promote financial stability, the Fed (by an affirmative vote of a majority of the board) may extend to a designated Utility access to Federal Reserve discount and borrowing privileges in unusual or exigent circumstances.  The designated Utility must show that it is unable to secure adequate credit accommodations from other banking institutions.  The Fed may prescribe limits on all such discount and borrowing privileges. [§ 806]