[Code of Federal Regulations]
[Title 12, Volume 2]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR201.51]

[Page 12-13]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 201--EXTENSIONS OF CREDIT BY FEDERAL RESERVE BANKS (REGULATION A)--Table of Contents
 
Sec. 201.51  Adjustment credit for depository instituions.

    The rates for adjustment credit provided to depository institutions 
under Sec. 201.3(a) are:

------------------------------------------------------------------------
           Federal Reserve Bank             Rate         Effective
------------------------------------------------------------------------
Boston...................................     .75  Nov. 7, 2002.
New York.................................     .75  Nov. 6, 2002.
Philadelphia.............................     .75  Nov. 7, 2002.
Cleveland................................     .75  Nov. 7, 2002.
Richmond.................................     .75  Nov. 7, 2002.
Atlanta..................................     .75  Nov. 7, 2002.
Chicago..................................     .75  Nov. 7, 2002.

[[Page 13]]


St. Louis................................     .75  Nov. 7, 2002.
Minneapolis..............................     .75  Nov. 7, 2002.
Kansas City..............................     .75  Nov. 7, 2002.
Dallas...................................     .75  Nov. 6, 2002.
San Francisco............................     .75  Nov. 6, 2002.
------------------------------------------------------------------------


[Reg. A, 67 FR 69467, Nov. 18, 2002]

    Effective Date Note: At 67 FR 67787, Nov. 7, 2002, Sec. 201.51 was 
revised, effective Jan. 9, 2003. For the convenience of the user, the 
revised text follows:

Sec. 201.51  Interest rates applicable to credit extended by a Federal 
          Reserve Bank.

    (a) Primary credit. The rate for primary credit provided to 
depository institutions under Sec. 201.4(a) is a rate above the target 
federal funds rate of the Federal Open Market Committee.
    (b) Secondary credit. The rate for secondary credit extended to 
depository institutions under Sec. 201.4(c) is a rate above the primary 
credit rate.
    (c) Seasonal credit. The rate for seasonal credit extended to 
depository institutions under Sec. 201.4(b) is a flexible rate that 
takes into account rates on market sources of funds.
    (d) Primary credit rate in a financial emergency. (1) The primary 
credit rate at a Federal Reserve Bank is the target federal funds rate 
of the Federal Open Market Committee if:
    (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.