Can I borrow money from the bank?

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Can I borrow money from the bank?
Federal Reserve funds are overnight loans banks use to meet the reserve requirement at the end of each day. ... That is because banks borrow fed funds from each other. They pay an interest rate that they call the fed funds rate. The borrowing bank does not need to supply collateral for the loan.

Reference:
Fed Funds: Definition, How Funds Market Works - The Balance
Oct 5, 2019

Category: Money in the bank

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