Fed Funds Effective Rate definition

Fed Funds Effective Rate means, in respect of a day, the rate of interest (expressed as an annual rate) as published in Federal Reserve Statistical Release H.15 (519) or Reuters Screen FEDFUNDS 1 Page or Bloomberg Page FEDL01 INDEX or any substituted publication therefor, charged for federal funds (dollars in immediately available funds borrowed by banks on an overnight unsecured basis) on that day or the immediately preceding day for which it had a value, or, if not available, ascertained from any other source as the Margin Loan Provider may deem appropriate.

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Fed Funds Effective Rate means the rate calculated by the NYFRB based on federal funds transactions by depository institutions. The Fed Funds Effective Rate is displayed on the NYFRB’s website and is effective for the Banking Day prior to the date of publication. If the Fed Funds Effective Rate as so determined would be less than zero, such rate shall be deemed to be zero for purposes of this Note.

Fed Funds Effective Rate means for any period, a fluctuating interest rate per annum for each day during such period equal to (a) the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as published for such day (or, if such day is not a Business Day, for the preceding Business Day) at 8:30 a.m. Eastern time by the Federal Reserve Bank of New York in the Composite Closing Quotations for U.S. Government Securities (such rate reflecting transactions from the prior Business Day); or (b) if such rate is not so published for any day which is a Business Day, the average of the quotations at approximately 10:30 a.m. (Chicago time) for such day on such transactions received by the Collateral Agent from three federal funds brokers of recognized standing selected by it.

Examples of Fed Funds Effective Rate in a sentence

If the Custodian fails to invest cash balances held in the Custodian Account as required by procedures adopted by the Custodian and approved by the Fund's administrator, the Custodian shall be liable to the Fund for interest to be calculated at the Fed Funds Effective Rate (as published daily by the Federal Reserve) net of the applicable reserve requirement.
Prior to maturity, Advances shall bear interest at the Fed Funds Effective Rate plus 45/100 of 1% per annum.
In the event that a change in the Fed Funds Effective Rate is announced or published at the time a Loan is outstanding, such change shall become effective at the time it is announced or published.
Any Advance not paid at maturity, whether by acceleration or otherwise, shall bear interest until paid in full at a rate per annum equal to the Fed Funds Effective Rate plus 2.4% per annum.
If the Custodian fails to invest cash balances held in the Custodian Account as required by procedures adopted by the Custodian and approved by the Fund’s administrator, the Custodian shall be liable to the Fund for interest to be calculated at the Fed Funds Effective Rate (as published daily by the Federal Reserve) net of the applicable reserve requirement.

More Definitions of Fed Funds Effective Rate

Fed Funds Effective Rate means the daily effective federal funds rate calculated by the Federal Reserve Bank of New York as reported on Bloomberg under the FEDL function for the date in question.

Fed Funds Effective Rate means, for any period, a fluctuating interest rate per annum for each day during such period equal to (a) the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as published for such day (or, if such day is not a Business Day, for the preceding Business Day) by the Federal Reserve Bank of New York in the Composite Closing Quotations for U.S. Government Securities; or (b) if such rate is not so published for any day which is a Business Day, the average of the quotations at approximately 10:30 a.m. (Chicago time) for such day on such transactions received by the Agent from three federal funds brokers of recognized standing selected by it.

Fed Funds Effective Rate means, in respect of a day, the rate of interest (expressed as an annual rate) as published in Federal Reserve Statistical Release H.15 (519) or Reuters Screen

Fed Funds Effective Rate means, in respect of an Index Business Day, the federal funds effective rate (expressed as a per annum percentage rate) in respect of such Index Business Day as published on Bloomberg page “FEDL01,” as determined by the Index Sponsor. If there is a subsequent correction to the Fed Funds Effective Rate, the Index Sponsor will determine in its sole and absolute discretion whether to subsequently correct the Index Closing Level to reflect such correction.

Fed Funds Effective Rate means the “Federal funds (effective)” rate of interest as determined by the Index Sponsor based on information provided by a reputable market vendor of such information.

Fed Funds Effective Rate means for any period, a fluctuating interest rate per annum for each day during such period equal to (a) the weighted

Fed Funds Effective Rate means, for any day, a rate per annum equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if the day for which such rate is to be determined is not a Business Day, the Federal Funds Effective Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the Business Day succeeding such next preceding Business Day, and (b) if such rate is not so published for any day, the Federal Funds Effective Rate for such day shall be the average of the quotations for such day on such transactions received by the Lender.