Discount Window
Contains publications that discuss the use, effect, or possible changes to the mechanics of the Discount Window. The Discount Window is “a safety valve in relieving pressures in reserve markets” and serves as the regional Federal Reserve Bank’s lending facility for reserve funds. While open market operations is now the most important tool of monetary policy, the Discount Window still plays a complementary role to ensure the basic stability of the payment system. For more information on the Discount Window, go to the Federal Reserve’s Discount Window website.
For discussions of individual Discount Window actions, please check the minutes of the FOMC, Board of Governors, and the Open Market Investment Committee (OMIC) reports.
Analysis of Federal Reserve Discount Window Loans to Failed Institutions
OCLC:
24146036
Citation:
United States. Congress. House. Committee on Banking, Finance, and Urban Affairs, ([year]), Analysis of Federal Reserve Discount Window Loans to Failed Institutions, [issue title/date], accessed May 23, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=716
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Direct Purchases of Government Securities by Federal Reserve Banks: Hearing... on H. R. 2233, Superceded by H. R. 2413, An Act to Amend the Federal Reserve Act, and for Other Purposes
Description:
Considers legislation to make permanent Federal Reserve bank authority to purchase Government securities directly from Treas Dept, and to remove Federal Reserve bank branch construction cost limits.
Considers (80) H.R. 2233, (80) H.R. 2413
SUDOC:
Y 4.B 22/1:Se 2
OCLC:
62654212
Citation:
United States. Congress. House. Committee on Banking and Currency, ([year]), Direct Purchases of Government Securities by Federal Reserve Banks: Hearing... on H. R. 2233, Superceded by H. R. 2413, An Act to Amend the Federal Reserve Act, and for Other Purposes, [issue title/date], accessed May 23, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=723
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Direct Purchases of United States Obligations by Federal Reserve Banks: Hearings before the Committee on Banking and Currency, House of Representatives, Eighty-fourth Congress, Second Session, on H. R. 9285. February 27 and 29, 1956
Description:
Hearings before the Committee on Banking and Currency, on H.R. 9285
SUDOC:
Y 4.B 22/1:Ob 4/2
OCLC:
6875171
Citation:
United States. Congress. House. Committee on Banking and Currency, ([year]), Direct Purchases of United States Obligations by Federal Reserve Banks: Hearings before the Committee on Banking and Currency, House of Representatives, Eighty-fourth Congress, Second Session, on H. R. 9285. February 27 and 29, 1956, [issue title/date], accessed May 23, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=724
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Discount policy of the Federal Reserve Banks
Date:
1921, American Economic Association
Volume:
11
ISSN:
0002-8282
Citation:
Sprague, O.M.W., 1921, Discount policy of the Federal Reserve Banks, from Meltzer, A History of the Federal Reserve Volume 1, 1913-1951, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/meltzer/record.php?id=4032
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Discount system in Europe: January 1, 1910 - Discount system in Europe
Publication:
Discount system in Europe
OCLC:
7231961
Citation:
National Monetary Commission and Warburg, Paul M., ([year]), Discount system in Europe: January 1, 1910, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/nmc/nmc_402_1910.pdf
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Evolution of the role and functioning of the discount mechanism
Imprint:
Imprint: Washington, DC: Board of Governors of the Federal Reserve System, 1966.
Date:
1966, Board of Governors of the Federal Reserve System
Citation:
Anderson, Clay, 1966, Evolution of the role and functioning of the discount mechanism, from Meltzer, A History of the Federal Reserve Volume 1, 1913-1951, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/meltzer/record.php?id=4067
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Extending the Treasury Federal Reserve Draw Authority: Hearing before the Subcommittee on Domestic Policy of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, Ninety-fifth Congress, Session Session, April 5, 1978
Description:
Hearing before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, 95th Congress, 2nd Session
OCLC:
213755752
Citation:
United States. Congress. House. Committee on Banking, Finance, and Urban Affairs, ([year]), Extending the Treasury Federal Reserve Draw Authority: Hearing before the Subcommittee on Domestic Policy of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, Ninety-fifth Congress, Session Session, April 5, 1978, [issue title/date], accessed May 23, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=726
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Federal Reserve Direct Purchases -- Old Series Currency Adjustment Act: Hearing before the Committee on Banking and Currency, United States Senate, Eighty-sixth Congress, Second Session, on S. 3702 and S. 3714, Bills to Extend Authority of Federal Reserve Banks to Purchase Treasury Obligations and to Authorize Adjustments in Accounts of Outstanding Old Series Currency, June 24, 1960
Description:
Hearing before the Committee on Banking and Currency, United States Senate, 86th Congress, 2nd session, on S. 3702 and S.3714. Bills to extend authority of Federal Reserve Banks to purchase Treasury Obligations and to authorize adjustments in accounts of outstanding old series currency
OCLC:
183884008
Citation:
United States. Congress. Senate. Committee on Banking and Currency, ([year]), Federal Reserve Direct Purchases -- Old Series Currency Adjustment Act: Hearing before the Committee on Banking and Currency, United States Senate, Eighty-sixth Congress, Second Session, on S. 3702 and S. 3714, Bills to Extend Authority of Federal Reserve Banks to Purchase Treasury Obligations and to Authorize Adjustments in Accounts of Outstanding Old Series Currency, June 24, 1960, [issue title/date], accessed May 23, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=776
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Federal Reserve Direct Purchases: Hearing before the Committee on Banking and Currency, United States Senate, Eighty-seventh Congress, Second Session, on S. 3291, a Bill to Amend Section 14(b) of the Federal Reserve Act, to Extend for Two Years the Authority of Federal Reserve Banks to Purchase U.S. Obligations Directly from the Treasury, June 20, 1962
Description:
Hearing before the Committee on Banking and Currency, United States Senate, 87th Congress, 2nd session, on S. 3291. A bill to amend section 14(b) of the Federal Reserve Act, to extend for two years the authority of Federal Reserve Banks to purchase U.S. obligations directly from the Treasury.
SUDOC:
Y 4.B 22/3: F 31/45/96
OCLC:
79885155
Citation:
United States. Congress. Senate. Committee on Banking and Currency, ([year]), Federal Reserve Direct Purchases: Hearing before the Committee on Banking and Currency, United States Senate, Eighty-seventh Congress, Second Session, on S. 3291, a Bill to Amend Section 14(b) of the Federal Reserve Act, to Extend for Two Years the Authority of Federal Reserve Banks to Purchase U.S. Obligations Directly from the Treasury, June 20, 1962, [issue title/date], accessed May 23, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=775
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Federal Reserve Discount Mechanism: Hearings before the Joint Economic Committee, Congress of the United States, Ninetieth Congress, Second Session, September 11 and 17, 1968
Description:
Hearings conducted in response to a report by the Board of Governors setting forth a proposed revision in the Federal Reserve discount practices. The Board report, "Reappraisal of the Federal Reserve Discount Mechanism," is available at http://fraser.stlouisfed.org/historicaldocs/dismech/download/59036/rptsyscomm.pdf
OCLC:
3619
Citation:
United States. Congress. Joint Economic Committee, ([year]), Federal Reserve Discount Mechanism: Hearings before the Joint Economic Committee, Congress of the United States, Ninetieth Congress, Second Session, September 11 and 17, 1968, [issue title/date], accessed May 23, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=759
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Related Publications:
Federal Reserve Discount Mechanism: System Proposals for Change, Report, together with Supplementary Views
OCLC:
8599
Citation:
United States. Congress. Joint Economic Committee, ([year]), Federal Reserve Discount Mechanism: System Proposals for Change, Report, together with Supplementary Views, [issue title/date], accessed May 23, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=760
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Related Publications:
Federal Reserve Treasury Draw Authority: Hearings before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, Ninety-fifth Congress, Second Session, June 27 and 28, 1978
Description:
Hearings before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, 95th Congress, 2nd session
SUDOC:
Y 4.B 22/1:F 31/55
OCLC:
4639657
Citation:
United States. Congress. House. Committee on Banking, Finance, and Urban Affairs, ([year]), Federal Reserve Treasury Draw Authority: Hearings before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, Ninety-fifth Congress, Second Session, June 27 and 28, 1978, [issue title/date], accessed May 23, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=733
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Fundamental Reappraisal of the Discount Mechanism
Description:
In the late 1960s this series of reports was prepared for a steering committee of the Board of Governors. The reports were prepared by the research staffs of the Board and the Federal Reserve Banks, and academic economists.
Citation:
Board of Governors of the Federal Reserve System (U.S.). Steering Committee for the Fundamental Reappraisal of the Discount Mechanism, ([year]), Fundamental Reappraisal of the Discount Mechanism, [issue title/date], accessed May 23, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=706
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Fundamental Reappraisal of the Discount Mechanism: Circa 1967 - Discount Mechanism in Leading Industrial Countries Since World War II
Publication:
Fundamental Reappraisal of the Discount Mechanism
Description:
Written by George Garvy, Federal Reserve Bank of New York. Prepared for the Steering Committee for the Fundamental Reappraisal of the Discount Mechanism Appointed by the Board of Governors of the Federal Reserve System.
Citation:
Board of Governors of the Federal Reserve System (U.S.). Steering Committee for the Fundamental Reappraisal of the Discount Mechanism, ([year]), Fundamental Reappraisal of the Discount Mechanism: Circa 1967, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/federal reserve history/discountmech/leadindustrials_garvy.pdf
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Fundamental Reappraisal of the Discount Mechanism: Circa 1969 - Academic Views on Improving the Federal Reserve Discount Mechanism
Publication:
Fundamental Reappraisal of the Discount Mechanism
Description:
A compilation of 24 papers by various authors responding to questions about the Federal Reserve discount mechanism and discount policies posed by Dr. Lester V. Chandler. Prepared for the Steering Committee for the Fundamental Reappraisal of the Discount Mechanism Appointed by the Board of Governors of the Federal Reserve System.
Citation:
Board of Governors of the Federal Reserve System (U.S.). Steering Committee for the Fundamental Reappraisal of the Discount Mechanism, ([year]), Fundamental Reappraisal of the Discount Mechanism: Circa 1969, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/federal reserve history/discountmech/acadview_var.pdf
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Fundamental Reappraisal of the Discount Mechanism: February 26, 1968 - Discount Policy and Open Market Operations
Publication:
Fundamental Reappraisal of the Discount Mechanism
Description:
Written by Paul Meek, Federal Reserve Bank of New York.
Citation:
Board of Governors of the Federal Reserve System (U.S.). Steering Committee for the Fundamental Reappraisal of the Discount Mechanism, ([year]), Fundamental Reappraisal of the Discount Mechanism: February 26, 1968, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/federal reserve history/discountmech/openmarkops_meek.pdf
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Fundamental Reappraisal of the Discount Mechanism: July 15, 1968 - Reappraisal of the Federal Reserve Discount Mechanism: Report of a System Committee
Publication:
Fundamental Reappraisal of the Discount Mechanism
Citation:
Board of Governors of the Federal Reserve System (U.S.). Steering Committee for the Fundamental Reappraisal of the Discount Mechanism, ([year]), Fundamental Reappraisal of the Discount Mechanism: July 15, 1968, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/federal reserve history/discountmech/rptsyscomm.pdf
Authors:
Fundamental Reappraisal of the Discount Mechanism: July, 1968 - Redesigned Discount Mechanism and the Money Market
Publication:
Fundamental Reappraisal of the Discount Mechanism
Description:
Written by Robert C. Holland, Board of Governors, and George Garvy, Federal Reserve Bank of New York.
Citation:
Board of Governors of the Federal Reserve System (U.S.). Steering Committee for the Fundamental Reappraisal of the Discount Mechanism, ([year]), Fundamental Reappraisal of the Discount Mechanism: July, 1968, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/federal reserve history/discountmech/redesign_holl.pdf
Authors:
Fundamental Reappraisal of the Discount Mechanism: November 6, 1968 - Discount Policy and Bank Supervision
Publication:
Fundamental Reappraisal of the Discount Mechanism
Description:
Written by Benjamin Stackhouse, Bank Examinations Department, Federal Reserve Bank of New York.
Citation:
Board of Governors of the Federal Reserve System (U.S.). Steering Committee for the Fundamental Reappraisal of the Discount Mechanism, ([year]), Fundamental Reappraisal of the Discount Mechanism: November 6, 1968, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/federal reserve history/discountmech/banksup_stackhouse.pdf
Authors:
Fundamental Reappraisal of the Discount Mechanism: November, 1966 - Evolution of the Role and the Functioning of the Discount Mechanism
Publication:
Fundamental Reappraisal of the Discount Mechanism
Description:
Written by Clay J. Anderson, Federal Reserve Bank of Philadelphia.
Citation:
Board of Governors of the Federal Reserve System (U.S.). Steering Committee for the Fundamental Reappraisal of the Discount Mechanism, ([year]), Fundamental Reappraisal of the Discount Mechanism: November, 1966, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/federal reserve history/discountmech/evolrole_ander.pdf
Authors:
Instruments of Federal Reserve Policy: Discount Rate
Description:
Bibliography
Date:
1956,
Citation:
Committee on the History of the Federal Reserve System, 1956, Instruments of Federal Reserve Policy: Discount Rate, from Brookings Institution: Papers from the Committee on the History of the Federal Reserve, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/brookings/17616_05_0013.pdf
Authors:
Memorandum on Problems Arising in Connection with the Discount Rate Reduction of November 14, 1957.
Description:
With attachment of 5 pages from Hearing - Monetary Policy and Management of Public Debt.
Date:
12/02/1957,
Citation:
Federal Reserve Bank of New York, 1957, Memorandum on Problems Arising in Connection with the Discount Rate Reduction of November 14, 1957., from William McChesney Martin Jr. Document Collection, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/martin/21_03_19571202.pdf
Authors:
Memorandum: Discount Rate
Description:
Rate conflict between Treasury and Federal Reserve
Date:
09/11/1950,
Citation:
United States. Dept. of the Treasury, 1950, Memorandum: Discount Rate, from William McChesney Martin Jr. Document Collection, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/martin/15_08_19500911.pdf
Authors:
Progressive Discount Rate
Description:
Internal Memorandum.
Date:
12/02/1955,
Citation:
Committee on the History of the Federal Reserve System, 1955, Progressive Discount Rate, from Brookings Institution: Papers from the Committee on the History of the Federal Reserve, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/brookings/16703_01_0038.pdf
Authors:
Progressive Discount Rate in Kansas City
Description:
Internal Memorandum
Date:
06/15/1955,
Citation:
Committee on the History of the Federal Reserve System, 1955, Progressive Discount Rate in Kansas City, from Brookings Institution: Papers from the Committee on the History of the Federal Reserve, accessed May 23, 2013 from FRASER, http://fraser.stlouisfed.org/docs/historical/brookings/16702_06_0013.pdf
Authors:
Purchase of Treasury Securities and Interest on Savings Deposits: Hearing, Ninetieth Congress, Second Session on S. 2923 and S. 3133 ... April 3, 1968
Description:
Hearing before the Subcommittee on Financial Institutions of the Committee on Banking and Currency, United States Senate, 90th Congress, 2nd Session on S. 2923 and S. 3133. To amend section 14(b) of the Federal Reserve Act to extend for two years the authority of Federal Reserve Banks to purchase U.S. obligations directly from the Treasury, and to extend for two years the authority for more flexible regulation of maximum rates of interest or dividends, higher reserve requirements, and open market operations in agency issues.
OCLC:
453116
Citation:
United States. Congress. Senate. Committee on Banking and Currency, ([year]), Purchase of Treasury Securities and Interest on Savings Deposits: Hearing, Ninetieth Congress, Second Session on S. 2923 and S. 3133 ... April 3, 1968, [issue title/date], accessed May 23, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=790
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Topics:
Study of the Dealer Market for Federal Government Securities: Materials Prepared for the Joint Economic Committee, Congress of the United States
Description:
Materials prepared for the Joint Economic Committee, 86th Congress, 2nd Session
SUDOC:
Y4.Ec 7:Se 2
OCLC:
5623849
Citation:
United States. Congress. Joint Economic Committee, ([year]), Study of the Dealer Market for Federal Government Securities: Materials Prepared for the Joint Economic Committee, Congress of the United States, [issue title/date], accessed May 23, 2013 from FRASER, http:fraser.stlouisfed.org/publication/?pid=762
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