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Topic: Federal funds

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Federal funds rate

Federal Reserve

Reserve requirements

Repurchase and Reverse Repurchase Transactions

Wall Street Journal prime rate

Federal Reserve Banks

Money market

Discount rate

Monetary Policy

	Legislative Oversight of Federal Funds (Site not responding. Last check: 2007-10-14)
		A distinction drawn in South Carolina is that an authorization of the use of federal funds saves the state from having to cover any deficiency in the funding, as opposed to an appropriation, which imposes a requirement that the state supplement lower-than-anticipated federal funds to meet the appropriated level.
		The unanticipated federal funds may be spent during the interim unless they will be used for the creation of new program or for a significant alteration to an existing program.
		Allotment of federal funds received in excess of budget estimates are delegated to the executive branch via the appropriations bills, however this delegation is discretionary.
	www.ncsl.org /programs/fiscal/lfp098.htm (4329 words)

	Maximize Federal Grant Funds (Site not responding. Last check: 2007-10-14)
		To increase federal grant funds, all of the state's grant activities related to determining eligibility for or receiving federal grants should be consolidated in a single entity.
		Texas' Office of State-Federal Relations is charged with increasing federal revenue to Texas by monitoring federal activity in Washington and attempting to modify federal decisions in the state's favor.
		If federal grants were distributed to the states based on population share alone, an additional $5.3 billion would be received by the state.
	cpr.ca.gov /report/cprrpt/issrec/gg/ir/gg07.htm (2337 words)

	TRUST FUNDS AND FEDERAL FUNDS United States Federal Budget 2006
		Because the Fund is substantively a means of accounting for general fund appropriations, and does not have any dedicated receipts, it is classified as a Federal fund rather than a trust fund, notwithstanding the presence of the words ‘‘Trust Fund’’ in its official name.
		However, because the totals for each fund group measure its transactions with the public and the other fund group, intrafund transactions must be subtracted from the sum of the income and outgo of all individual funds within the fund group to calculate the consolidated income and outgo for that fund group as a whole.
		Similarly, because the outgo for Federal funds and for trust funds in Table 22–1 consists of outlays gross of offsetting receipts, the amount of the offsetting receipts must be deducted from the sum of the Federal funds’ and the trust funds’ gross outgo in order to reconcile to total (net) unified budget outlays.
	www.egovernmentaccess.com /TrustFunds_06.htm (3421 words)

	Passing Down the Deficit, Revised 8/18/04
		Federal policies, which have reduced state revenues and imposed additional costs on states, have played a significant role in enlarging these deficits and are impeding states’ fiscal recovery.
		If the federal deficit were not mounting at an alarming rate in part because of costly tax cuts heavily geared toward high-income households, the federal government could afford to do more to help states avert substantial cuts in education and health care and significant state tax increases.
		The majority of states, however, were reluctant to piggyback on this temporary federal tax cut during a period when state revenues were declining, and 34 states have “decoupled” and maintained their prior tax treatment of depreciation rather than adopting the new, very generous federal provision.
	www.cbpp.org /5-12-04sfp.htm (2757 words)

	Obligating Federal Funds under TANF
		Thus, TANF funds carried over as reserve funds from one year to the next cannot be spent on activities generally directed at serving the goals of the program, but outside the scope of the definition of "assistance," given at 45 CFR 260.31.
		Federal regulations at 45 CFR 92.3 define the grantee as the "entire legal entity even if only a particular component of the entity is designated in the grant award document," in other words the State in its entirety.
		Any unspent funds remaining at the end of the immediately succeeding year must be included in the unobligated balance corresponding to the Federal fiscal year in which the funds were awarded.
	www.acf.dhhs.gov /programs/ofa/pi2002-2.htm (1792 words)

	Federal Funds - Fedpoints - Federal Reserve Bank of New York (Site not responding. Last check: 2007-10-14)
		Banks keep reserves at Federal Reserve Banks to meet their reserve requirements and to clear financial transactions, and transactions in the federal funds market enable depository institutions with reserve balances in excess of reserve requirements to sell reserves to institutions with reserve deficiencies.
		Overnight federal funds transactions under a continuing contract are renewed automatically until termination by either the lender or the borrower.
		Movements in the federal funds rate have important implications for the loan and investment policies of all financial institutions, especially for commercial bank decisions concerning loans to businesses, individuals, and foreign institutions.
	www.ny.frb.org /aboutthefed/fedpoint/fed15.html (796 words)

	Federal Funds as supplied by EagleTraders.com
		The standard unit of trading in federal funds among the larger banks is $1 million, and among the smaller banks, $200,000.
		Purchases of federal funds by national banks are not indebtedness subject to the general limitation on a national bank’s borrowing (not over capital stock unimpaired plus 50% of unimpaired surplus fund), pursuant to Comptroller of the Currency’s Ruling 7518.
		Nor is such a purchase of federal funds subject to the general 10% limit on loans to any one single borrower (10% of the bank’s capital and surplus), pursuant to the Comptroller of the Currency’s Ruling 1130.
	www.eagletraders.com /advice/securities/federal_funds.htm (554 words)

	Federal Funds (Site not responding. Last check: 2007-10-14)
		Federal Funds in New Hampshire: What We Get, What We Don’t Get, and Why: 1997 - May 1999 - This report updated the analysis contained in two prior annual reports with the data for federal fiscal year 1997.
		Federal Funds in New Hampshire: What We Get, What We Don’t Get, and Why: 1996 - April 1998 - This report updated the analysis contained in the 1995 report with the data for federal fiscal year 1996.
		Federal Funds in New Hampshire: What We Get, What We Don’t Get, and Why: 1995 - April 1997 - This report was the first in the series designed to monitor changes in federal funds available to New Hampshire and to identify policy issues related to those funds.
	www.nhpolicy.org /fedfunds.htm (352 words)

	Definition of Federal Funds Rate (Fed Funds Rate)
		The federal funds rate is the interest rate at which a depository institution lends immediately available funds (balances at the Federal Reserve) to another depository institution overnight.
		The Federal Reserve Act specifies that the FOMC should seek "to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates." At each meeting, the FOMC closely examines a number of indicators of current and prospective economic developments.
		A decrease in the federal funds interest rate stimulates economic growth, but an excessively high level of economic activity can cause inflation pressures to build to a point that ultimately undermines the sustainability of an economic expansion.
	www.econmodel.com /classic/terms/fedfunds.htm (248 words)

	In a first, Dean says he'll reject US funds - The Boston Globe
		Dean's decision to depart from the federal campaign funding, made after 85 percent of 105,000 polled supporters gave their blessing in an online survey, set the stage for other Democrats to follow suit.
		Opting out of federal financing means that both Bush and Dean are able to spend freely through the nomination process, released from the $45 million spending cap that accompanies acceptance of $18.6 million in matching funds.
		Dean, who had filed preliminary paperwork with the Federal Election Commission to accept matching funds, took pains yesterday to differentiate his move from Bush's, saying the decision to opt out was done in furtherance of campaign finance reform.
	www.boston.com /news/nation/articles/2003/11/09/in_a_first_dean_says_hell_reject_us_funds (1113 words)

	Federal funds - Wikipedia, the free encyclopedia
		In the United States, federal funds are bank reserves at the Federal Reserve.
		Transactions in the federal funds market enable depository institutions with reserve balances in excess of reserve requirements to lend reserves to institutions with reserve deficiencies.
		Participants in the federal funds market include commercial banks, savings and loan associations, government sponsored enterprises, branches of foreign banks in the United States, federal agencies, and securities firms.
	en.wikipedia.org /wiki/Federal_Funds (297 words)

	Federal Funds (Site not responding. Last check: 2007-10-14)
		You will receive a weekly confirmation which shows where your funds were invested each day of the preceding week, the rate of interest earned on the Pool for each day, and the amount of interest paid to you each day.
		By spreading your Federal Funds among a number of banks in the Pool, you also avoid the problem of an undue concentration of Federal Funds in any one bank.
		Funds may be invested in the Pool in multiples of $1,000.00.
	www.bbok.com /federal_funds.htm (503 words)

	The Federal Pie Chart
		The government practice of combining trust and federal funds began during the Vietnam War, thus making the human needs portion of the budget seem larger and the military portion smaller.
		Federal funds exclude trust fund money (e.g., social security), which is raised separately (e.g., the FICA and Medicare deductions in paychecks) and is specifically ear-marked for particular programs.
		By combining trust funds with federal funds, the percentage of spending on the military appears smaller, a deceptive practice first used by the government in the late 1960s as the Vietnam War became more and more unpopular.
	www.warresisters.org /piechart.htm (1560 words)

	How Federal Trust Funds Really Work (Site not responding. Last check: 2007-10-14)
		When a federal trust fund is credited with more income than outgo (as is the case with Social Security), the trust fund "balance" increases.
		In the case where a trust fund program spends more than it takes in, as Medicare does, the outlays are still funded the same way that all government outlays are: by tax receipts, proprietary receipts, and borrowing from the public (deficit spending) to make up the difference.
		The reason is that the federal debt ceiling is (with minor exceptions) a ceiling on the gross federal debt, not just on the debt to the public.
	grove.ufl.edu /~leo/fed_trust_funds.html (1905 words)

	Federal Transportation Funds Benefit Recreation - Recreational Trails Program - Planning and Environment - FHWA
		In September 2000, FHWA and the Federal Transit Administration (FTA) sent a joint letter to their field offices, State DOTs, and transportation partner organizations recognizing that an accessible transportation infrastructure is a civil right, and encouraging accessible pedestrian accommodations wherever possible.
		Federal highway funds are the single largest source of funds for historic preservation available to the States.
		FLHP funds appropriated to a Federal land management agency may be used to pay the non-Federal share of the cost of any Federal-aid highway project that provides access to or within Federal or Indian lands.
	www.fhwa.dot.gov /environment/rectrails/fundrec.htm (3425 words)

	For Kerry, a fork in the road: federal funds, or his own path - The Boston Globe
		After declaring last Saturday that he would be the first Democratic presidential candidate ever to decline public matching funds, freeing himself of spending limits, Dean has forced Kerry into a potentially fateful choice: join Dean outside the public financing system or stay in, take the matching funds and abide by the state spending caps.
		Under Federal Election Commission rules, he can spend or borrow against half the value of the joint assets, which were listed as a painting worth $250,001 to $500,000 and a bank account with between $50,001 and $100,000.
		But by running a privately funded campaign, Kerry would be uncoupled from the spending caps, which are constraining, particularly in high-stakes, early voting states such as Iowa and New Hampshire.
	www.boston.com /news/nation/articles/2003/11/13/for_kerry_a_fork_in_the_road_federal_funds_or_his_own_path (838 words)

	Fed raises federal funds rate (Site not responding. Last check: 2007-10-14)
		The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 3-3/4 percent.
		The Federal Reserve's rate-setting Open Market Committee raised its target for the federal funds rate by a quarter of a percentage point to 3.75 percent.
		The federal funds rate has quadrupled, since June 2004 when it was 1 percent.
	www.bankrate.com /brm/news/fed/main-nov1.asp (1560 words)

	Mutual Fund Education Alliance -- Home Page
		Ariel Mutual Funds has been named the recipient of the Community Investment Award for 2006, in recognition of the company’s extensive community involvement.
		Younger investors saving for retirement often ask: "How big does my portfolio have to be before I can retire?" Those nearer to or in the very early stages of retirement might ask: "How much can I safely withdraw from my retirement portfolio?" The two questions are really different ways of approaching the same critical issue.
		If you've been reluctant to invest in a 529 college savings plan because the federal tax benefits were scheduled to expire in 2010, you needn't hold back any longer.
	www.mfea.com (241 words)

	nsf.gov - SRS Federal Funds for R&D - US National Science Foundation (NSF)
		Federal Funds for RandD: FYs 1973-2003; Federal Obligations for Research to Universities and Colleges by Agency and Field of SandE [NSF 04-332] (tables)
		Federal Funding for RandD and RandD Plant Continues to Grow in the 21st Century [NSF 03-321] (brief)
		Federal Funding for RandD and for RandD Plant Expected to Decrease in FY 1994 [NSF 94-309] (brief)
	www.nsf.gov /statistics/fedfunds (828 words)

	Federal Funds Rate Prediction
		Recent research has reported that both the federal funds rate futures market and the federal funds target contain valuable information for explaining the behavior of the US effective federal funds rate.
		In this paper we produce out of sample forecasts of the federal funds rate at horizons up to 8 weeks ahead using linear and nonlinear, regime-switching equilibrium correction models of the funds rate and employing both point and density measures of forecast accuracy.
		However, in terms of density forecast accuracy, we find that the term structure model of the federal funds futures rate is significantly better than the other models considered, and that regime-switching models provide a substantial forecasting improvement relative to their linear counterparts and relative to individual series of the futures rate.
	ideas.repec.org /p/ecj/ac2003/183.html (538 words)

	Hussman Funds - Why the Federal Reserve is Irrelevant
		The main job of the Federal Reserve is to determine the mix of government liabilities held by the public.
		Alternately, it can try to control the Federal Funds rate (and passively adjust the monetary base by whatever amount is required to keep Fed Funds on target).
		Changes in the Prime Rate follow changes in the Federal Funds rate largely because 1) competition forces equality of lending rates; 2) the Fed Funds rate tracks other short term rates, and; 3) changing Prime in unison at any other time than a discrete Fed move would be considered evidence of collusion among banks.
	www.hussmanfunds.com /html/fedirrel.htm (1521 words)

	ERS/USDA Briefing Room - Rural Development Strategies
		Federal Rural Development Policy in the Twentieth Century—This report, which appears on the web site of USDA's Rural Information Center, is a history of the evolution of rural development policy in the United States.
		Federal Funds Data, Fiscal 1994-2001—Presents annual expenditures or obligations for each Federal program and for each county and State.
		The data include Federal expenditures and obligations for grants, salaries and wages, procurements, direct payments, direct loans, guaranteed loans, and insurance.
	www.ers.usda.gov /briefing/FederalFunds (546 words)

	FRB: Monetary Policy, Open Market Operations
		The federal funds rate is the interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions overnight.
		During the 1980s, the focus gradually shifted toward attaining a specified level of the federal funds rate, a process that was largely complete by the end of the decade.
		Beginning in 1994, the FOMC began announcing changes in its policy stance, and in 1995 it began to explicitly state its target level for the federal funds rate.
	www.federalreserve.gov /fomc/fundsrate.htm (203 words)

	Federal Funds Rate Data - Federal Reserve Bank of New York (via CobWeb/3.1 planetlab1.netlab.uky.edu) (Site not responding. Last check: 2007-10-14)
		By trading government securities, the New York Fed affects the federal funds rate, which is the interest rate at which depository institutions lend balances to each other overnight.
		The Federal Open Market Committee establishes the target rate for trading in the federal funds market.
		The daily effective federal funds rate is a volume-weighted average of rates on trades arranged by major brokers.
	www.ny.frb.org.cob-web.org:8888 /markets/omo/dmm/fedfundsdata.cfm (172 words)

	DEFINITION OF FEDERAL FUNDS
		The following definition of Federal funds is to be used for the purpose of identifying those monies remitted to the State Treasury which must be deposited in the Federal Trust Fund:
		Federal funds are all monies received directly from the United States Government, the expenditure of which is administered through or under the direction of any State agency and reported as Federal Trust Fund monies in the "Reconciliation with Appropriations" in the Governor's Budget.
		Federal monies passed from one State agency to another will be classified by the second agency as reimbursements.
	sam.dgs.ca.gov /TOC/17000/17105.htm (247 words)

	Federal funds rate Definition
		The interest rate that banks charge each other for the use of Federal funds.
		The Federal funds rate is one of the of two interest rates controlled by the Fed. While the Fed can't directly affect this rate, it effectively controls it in the way it buys and sells Treasuries to banks.
		Learn the basics about the Federal Reserve, The Federal Open Market Committee (FOMC), and how monetary policy is used to target interest rates to avoid inflation and slow economic growth.
	www.investorwords.com /1902/Federal_funds_rate.html (227 words)

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