FRBSF 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 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) 2022 4.00 2022 me 2022 0-50 2019 2-50 2018 3-00 2018 2-?5 2022 2.20 2016 1-25 2008 1-25 2008 2-50 \fEffective Date Rate (% per annum) 2001 January 31 5.00 2001 January 4 5.50 2001 January 3 5.75 2000 May 16 6.00 2000 March 21 SLF 1 7.50 Basic Discount Rate 5.50 2000 February 2 SLF 7.25 Basic Discount Rate 5.25 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 November 17 4.50 1998 October 15 4.75 1996 January 31 5.00 1995 February 1 5.25 1994 November 15 4.75 1994 August 17 4.00 1994 May 17 3.50 1992 July 2 3.00 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 December 19 6.50 1989 February 24 7.00 1988 August 9 6.50 1987 September 9 6.00 1986 August 21 5.50 1986 July 11 6.00Effective Date Rate (% per annum) 1986 April 21 6.50 1986 March 7 7.00 1985 May 21 7.50 984 December 24 8.00 1984 November 21 8.50 1984 April 13 9.00 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 December 4 12.00 1981 November 2 13.00 1981 May 5 14.00 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) 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. (2) 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.Table 1: GDP growth rate by quarter, 1981-1982 1981 1982 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 GDP growth rate 8.1 -2.9 4.9 -4.3 -6.1 1.8 -1.5 0.2 Note that Q1 refers to Quarter 1 (Jan, Feb, Mar), Q2 refers to Quarter 2 (Apr, May, June), Q3 refers to Quarter 3 (July, Aug, Sept), and Q4 refers to Quarter 4 (Oct, Nov, Dec) Table 2: Inflation rate changes by month, 2021-2022 2021 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Inflation rate 1.4 1.7 2.6 4.2 5.0 5.4 5.4 5.3 5.4 6.2 6.8 7.0 2022 Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec Inflation rate 7.5 7.9 8.5 8.3 8.6 9.1 8.5 8.3 8.2 7.7 7.1 6.5