The reluctance to borrow from the Fed

Craig Furfine*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

24 Scopus citations


Banks prefer borrowing in the federal funds market, even when the Fed offers a confidential, guilt-free, and less expensive alternative. This suggests that commercial banks deliberately avoid borrowing from the central bank.

Original languageEnglish (US)
Pages (from-to)209-213
Number of pages5
JournalEconomics Letters
Issue number2
StatePublished - Aug 2001


  • Discount window
  • E52
  • E58
  • Federal funds market
  • G21
  • Special lending facility

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics


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