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""The average daily rate charged by member banks for overnight loans of reserves" best describes the:"
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""The average daily rate charged by member banks for overnight loans of reserves" best describes the:"

User Scott Rowell
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4 votes

Answer:

Federal funds rate

Step-by-step explanation:

Federal funds rate is the interest rate at which commercial banks borrow and lend their excess reserves to each other overnight.

User Alexandru Stroescu
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