Answer :
Final answer:
The discount rate is the interest rate charged to commercial banks on loans from the Federal Reserve's discount window.
Explanation:
The discount rate is the interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank's lending facility--the discount window. The Federal Reserve Banks offer three discount window programs to depository institutions: primary credit, secondary credit, and seasonal credit, each with its own interest rate. All discount window loans are fully secured.
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