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Federal Reserve Board of Governors

Reporting forms

FR 2420

Report of Selected Money Market Rates

Description: The FR 2420 is a transaction-based report that collects daily liability data on federal funds, Eurodollar transactions, and certificates of deposits (CDs) from (1) domestically chartered commercial banks and thrifts that have $26 billion or more in total assets and (2) U.S. branches and agencies of foreign banks with total third-party assets of $900 million or more.

OMB: 7100-0357

Purpose: The FR 2420 data is used to support a range of functions including the daily implementation of monetary policy and the analysis of broad money market conditions.

Background: The Federal Reserve established the FR 2420 to improve the ability to monitor money markets. Given that the Federal Reserve Bank of New York (FRBNY), on behalf of the Federal Reserve, implements temporary open market operations, at the directive of the Federal Open Market Committee (FOMC), in money markets, having transaction data from these money markets provides insight into market functioning. The FR 2420 collects transaction-level data, including transactions executed through brokers and those transacted directly between counterparties. The new data collection also includes term federal funds transactions. Similarly, for Eurodollars (dollar-denominated liabilities outside the U.S.), the FR 2420 collects transaction-level detail, including transactions executed directly between counterparties. The FR 2420 provides rate level information on CDs that include negotiable and non-negotiable instruments.

Respondent Panel: The FR 2420 reporting panel is comprised of commercial banks, thrifts, and branches and agencies of foreign banks. Commercial banks and thrifts with $26 billion or more in total assets on the September 30 Call Report each year are required to report the FR 2420 daily for the following year. U.S. branches and agencies of foreign banks that have third-party assets of $900 million or more on the September 30 FFIEC 002 each year are required to report the FR 2420 daily for the following year.

Frequency: The FR 2420 is collected daily.

Public Release: Microdata from the FR 2420 are considered confidential and are not published.

Last Update: March 27, 2014