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BIBLIOGRAPHY

Federal Reserve Board discount rate action (August 17, 2007)

Board of Governors of the Federal Reserve System

Claims Supported by This Source

  1. On August 17, 2007, the primary credit rate was lowered by 50 bp to 5.75%. The spread to the FF rate target was narrowed to 50 bp.
  2. Temporarily extended the term of discount window loans to up to 30 days, renewable by the borrower. Continued to accept a broad range of collateral, including mortgage loans and related assets.
  3. The purpose was to restore orderly conditions in financial markets. To provide depository institutions with greater assurance about the cost and availability of funds.

How to read the verification levels. 'Read' means the material was read in its entirety. 'Bibliography and abstract confirmed' means the bibliographic information and abstract were verified. 'Via course material' means the source was referenced through the main text of a book or a country's monetary history. The text hash is the SHA-256 of the main text from the original source page, excluding tags and whitespace, used to detect if the material has been altered.