The interest rate banks charge each other to borrow excess reserves is called the:

Name: The interest rate banks charge each other to borrow excess reserves is called the:
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The federal funds rate is the interest rate at which depository institutions trade federal funds (balances held at Federal Reserve Banks) with each other overnight. This rate is crucial in the interbank market and influences other interest rates in the economy.

The Interest Rate Banks Charge Each Other to Borrow Excess