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- Lombard_credit abstract "Lombard credit is the granting of credit to banks against pledged items, mostly in the form of securities or life insurance policies. The pledged items must be readily marketable. Lending is via central banks, in particular the securities 'eligible for collateral' which are registered on lists; as a general rule, the Lombard rate (interest rate) is more or less one per cent above discount rate. The pledging of securities means that the credit institutions have the opportunity of acquiring money in the short term from central banks.One prominent role of Lombard credit is in use by the Federal Reserve System of the United States of America. Traditionally, the discount rate, or the rate charged by the Fed to member banks in need of funds (ostensibly to maintain the required reserve ratio), was lower than the target federal funds rate, or the rate charged among banks for the same type of overnight credit. This meant that banks could borrow from the Central Bank at a lower rate than they could from each other, which somewhat conflicts with the Central Bank's role as a \"lender of last resort\". A discount rate lower than the rate typically charged by another bank opened the possibility of arbitrage and thus required extra scrutiny of potential borrowers. The Federal Reserve Board of the United States switched to a so-called \"Lombard facility,\" in which the discount rate is actually higher than the targeted federal funds rate, thus creating an economic incentive for banks to look elsewhere before asking to borrow from the Fed.Etymology of the term comes from Lombards, people who conquered Italy 6c. and settled in the northern region that became known as Lombardy. Lombards were notable in Middle Ages throughout Western Europe as bankers and money-lenders, also pawn-brokers; London's Lombard Street (1598) originally was occupied by Lombard bankers.In the minds of many bank executives and market participants there is still a stigma attached to borrowing from the Discount window, so while the vast majority of federal funds loans occur below the discount rate (at or near the Target federal funds rate), there have been instances when banks have paid above-market rates (particularly, rates at or even above the discount rate) for federal funds. Some economists speculate that banks take advantage of this arbitrage opportunity by borrowing from the Fed at the discount rate and then loaning that money as federal funds to other banks at a higher rate.".
- Lombard_credit wikiPageID "2489126".
- Lombard_credit wikiPageLength "3573".
- Lombard_credit wikiPageOutDegree "15".
- Lombard_credit wikiPageRevisionID "670650551".
- Lombard_credit wikiPageWikiLink Arbitrage.
- Lombard_credit wikiPageWikiLink Category:Monetary_policy.
- Lombard_credit wikiPageWikiLink Central_bank.
- Lombard_credit wikiPageWikiLink Discount_window.
- Lombard_credit wikiPageWikiLink Federal_Reserve_Board_of_Governors.
- Lombard_credit wikiPageWikiLink Federal_Reserve_System.
- Lombard_credit wikiPageWikiLink Federal_funds.
- Lombard_credit wikiPageWikiLink Federal_funds_rate.
- Lombard_credit wikiPageWikiLink Lender_of_last_resort.
- Lombard_credit wikiPageWikiLink Lombards.
- Lombard_credit wikiPageWikiLink Lombardy.
- Lombard_credit wikiPageWikiLink Reserve_requirement.
- Lombard_credit wikiPageWikiLink United_States.
- Lombard_credit wikiPageWikiLinkText "Lombard credit".
- Lombard_credit wikiPageWikiLinkText "lombard".
- Lombard_credit wikiPageUsesTemplate Template:Clarify_me.
- Lombard_credit wikiPageUsesTemplate Template:Cleanup-section.
- Lombard_credit wikiPageUsesTemplate Template:Econ-policy-stub.
- Lombard_credit wikiPageUsesTemplate Template:Refimprove.
- Lombard_credit wikiPageUsesTemplate Template:Reflist.
- Lombard_credit wikiPageUsesTemplate Template:Who.
- Lombard_credit subject Category:Monetary_policy.
- Lombard_credit type Page.
- Lombard_credit comment "Lombard credit is the granting of credit to banks against pledged items, mostly in the form of securities or life insurance policies. The pledged items must be readily marketable. Lending is via central banks, in particular the securities 'eligible for collateral' which are registered on lists; as a general rule, the Lombard rate (interest rate) is more or less one per cent above discount rate.".
- Lombard_credit label "Lombard credit".
- Lombard_credit sameAs Q529903.
- Lombard_credit sameAs Ломбарден_кредит.
- Lombard_credit sameAs Lombardní_úvěr.
- Lombard_credit sameAs Lombardkredit.
- Lombard_credit sameAs Crédit_lombard.
- Lombard_credit sameAs Lombardhitel.
- Lombard_credit sameAs Anticipazione_bancaria.
- Lombard_credit sameAs Lombardering.
- Lombard_credit sameAs m.07hgzc.
- Lombard_credit sameAs Q529903.
- Lombard_credit wasDerivedFrom Lombard_credit?oldid=670650551.
- Lombard_credit isPrimaryTopicOf Lombard_credit.