the rate is the interest rate banks charge each other for borrowing or storing money.
the rate is the interest rate banks charge each other for borrowing or storing money.
Answer
Brief Explanations:
The term refers to the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight on an uncollateralized basis. In the United States, this is specifically known as the federal funds rate, which is a key tool used by the central bank to influence monetary policy and the broader economy.
Answer:
federal funds