Secondary Credit
Data File:
Secondard credit is traditionally provided by the Fed to depository institutions that do not quality for primary credit to promote market stability and provide necessary liquidity. According to the NY Fed, it is available " to meet backup liquidity needs when its use is consistent with a timely return to market sources of funding or the orderly resolution of a troubled institution."
Along with primary and seasonal credit, this program makes up the Fed's "discount window."
Notes:
Maximum amount unlimited. Amount spent represents loans outstanding as of 7/14/2010 (http://www.federalreserve.gov/releases/h41/Current/). Activities of the Federal Reserve are not directly recorded in the federal budget. However, each year the Federal Reserve remits a portion of its earnings to the general treasury. This remittance is generally in the range of $20-$30 billion per year, but the CBO estimates that the Fed's earnings will be lower by approximately $90 billion over the next ten years.