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.