Fed Finalizes Rule Amendments on Credit Rate Reductions

The Federal Reserve Board of Governors ("Fed") finalized amendments to Regulation A ("Extensions of Credit by Fed Banks") to implement reductions in the interest rates applicable to primary and secondary credit extended by Fed banks.

The Fed explained that the Regulation A rate updates are necessary to maintain consistency between discount window lending and broader monetary policy. The new primary and secondary credit rates took effect on October 30, 2025, and the amendments to Regulation A will become effective on November 14, 2025.