Discount Rate
“Discount Rate” on Advances to Member Banks under Sections 13 and 13a of the Federal Reserve Act in Effect at the Federal Reserve Bank of San Francisco
Visit the Federal Reserve Discount Window for more information.
The following is a list of rates of interest on our advances to, and discounts for, member banks and other depository institutions under Sections 13 and 13a of the Federal Reserve Act. Each rate (also referred to as the “discount rate”) was in effect until the next date indicated.
Effective Date | Rate
(% per annum) |
|
2023 | July 27 | 5.50* |
2023 | May 04 | 5.25 |
2023 | March 23 | 5.00 |
2023 | February 02 | 4.75 |
2022
Effective Date | Rate
(% per annum) |
|
2022 | December 15 | 4.50 |
2022 | November 03 | 4.00 |
2022 | September 22 | 3.25 |
2022 | July 28 | 2.50 |
2022 | June 17 | 1.75 |
2022 | May 05 | 1.00 |
2022 | March 17 | 0.50 |
2020
Effective Date | Rate
(% per annum) |
|
2020 | March 16 | 0.25 |
2020 | March 04 | 1.75 |
2019
Effective Date | Rate
(% per annum) |
|
2019 | October 31 | 2.25 |
2019 | September 19 | 2.50 |
2019 | August 01 | 2.75 |
2018
Effective Date | Rate
(% per annum) |
|
2018 | December 20 | 3.00 |
2018 | September 27 | 2.75 |
2018 | June 14 | 2.50 |
2018 | March 22 | 2.25 |
2017
Effective Date | Rate
(% per annum) |
|
2017 | December 14 | 2.00 |
2017 | June 15 | 1.75 |
2017 | March 16 | 1.50 |
2016
2016 | December 15 | 1.25 |
2015
2015 | December 17 | 1.00 |
2010
2010 | February 19 | 0.75 |
2008
2008 | December 16 | 0.50 |
2008 | October 29 | 1.25 |
2008 | October 8 | 1.75 |
2008 | April 30 | 2.25 |
2008 | March 18 | 2.50 |
2008 | March 17 | 3.25 |
2008 | January 30 | 3.50 |
2008 | January 22 | 4.00 |
2007
2007 | December 11 | 4.75 |
2007 | October 31 | 5.00 |
2007 | September 18 | 5.25 |
2007 | August 17 | 5.75 |
2006
2006 | June 29 | 6.25 |
2006 | May 10 | 6.00 |
2006 | March 28 | 5.75 |
2006 | January 31 | 5.50 |
2005
2005 | December 13 | 5.25 |
2005 | November 1 | 5.00 |
2005 | September 20 | 4.75 |
2005 | August 9 | 4.50 |
2005 | June 30 | 4.25 |
2005 | May 3 | 4.00 |
2005 | March 22 | 3.75 |
2005 | February 2 | 3.50 |
2004
2004 | December 14 | 3.25 |
2004 | November 10 | 3.00 |
2004 | September 21 | 2.75 |
2004 | August 10 | 2.50 |
2004 | June 30 | 2.25 |
2003
2003 | June 25 | 2.00 |
2003 | January 9 | 2.251 |
2002
2002 | November 6 | 0.75 |
2001
2001 | December 11 | 1.25 |
2001 | November 6 | 1.50 |
2001 | October 2 | 2.00 |
2001 | September 17 | 2.50 |
2001 | August 21 | 3.00 |
2001 | June 27 | 3.25 |
2001 | May 15 | 3.50 |
2001 | April 18 | 4.00 |
2001 | March 20 | 4.50 |
2001 | January 31 | 5.00 |
2001 | January 4 | 5.50 |
2001 | January 3 | 5.75 |
2000
2000 | May 16 | 6.00 |
2000 | March 21 | |
SLF2 | 7.50 | |
Basic Discount Rate | 5.50 | |
2000 | February 2 | |
SLF | 7.25 | |
Basic Discount Rate | 5.25 |
1999
1999 | November 16 | |
SLF | 7.00 | |
Basic Discount Rate | 5.00 | |
1999 | October 1 | |
SLF | 6.75 | |
Basic Discount Rate | 4.75 | |
1999 | August 24 | 4.75 |
1998
1998 | November 17 | 4.50 |
1998 | October 15 | 4.75 |
1996
1996 | January 31 | 5.00 |
1995
1995 | February 1 | 5.25 |
1994
1994 | November 15 | 4.75 |
1994 | August 17 | 4.00 |
1994 | May 17 | 3.50 |
1992
1992 | July 2 | 3.00 |
1991
1991 | December 20 | 3.50 |
1991 | November 6 | 4.50 |
1991 | September 13 | 5.00 |
1991 | April 30 | 5.50 |
1991 | February 1 | 6.00 |
1990
1990 | December 19 | 6.50 |
1989
1989 | February 24 | 7.00 |
1988
1988 | August 9 | 6.50 |
1987
1987 | September 9 | 6.00 |
1986
1986 | August 21 | 5.50 |
1986 | July 11 | 6.00 |
1986 | April 21 | 6.50 |
1986 | March 7 | 7.00 |
1985
1985 | May 21 | 7.50 |
1984
1984 | December 24 | 8.00 |
1984 | November 21 | 8.50 |
1984 | April 13 | 9.00 |
1982
1982 | December 14 | 8.50 |
1982 | November 22 | 9.00 |
1982 | October 11 | 9.50 |
1982 | August 27 | 10.00 |
1982 | August 16 | 10.50 |
1982 | August 2 | 11.00 |
1982 | July 20 | 11.50 |
1981
1981 | December 4 | 12.00 |
1981 | November 2 | 13.00 |
1981 | May 5 | 14.00 |
1980
1980 | December 5 | 13.00 |
1980 | November 17 | 12.00 |
1980 | September 26 | 11.00 |
1980 | July 28 | 10.00 |
1980 | June 13 | 11.00 |
1980 | May 29 | 12.00 |
1980 | February 15 | 13.00 |
*current rate
The Federal Reserve Bank expresses no opinion on the applicability of the basic discount rate or surcharge to any transaction governed by a Federal or state usury or usury preemption statute.
1. On January 9, 2003, Regulation A (Extensions of Credit by Reserve Banks) was amended to restructure Federal Reserve credit programs that resulted in a new method of establishing the discount rate. The rate change on January 9, 2003, did not reflect a change in the stance of monetary policy. See more information about the Discount Window.
2. The Federal Reserve Board established a Century Date Change Special Liquidity Facility (SLF), a program for lending to depository institutions from October 1, 1999 through April 7, 2000. The interest rate charged on loans from the SLF is 150 basis points higher than the Federal Open Market Committee’s intended federal funds rate.