Accessible Version
Accessible Version
Financial Markets Conference, Federal Reserve Bank of Atlanta
Fernandina Beach, Florida
May 19, 2025
Liquidity Facilities: Purposes and Functions
Philip N. Jefferson
Vice Chair, Federal Reserve Board
Board of Governors of the
Federal Reserve System
The views expressed here are my own and are not necessarily those of my colleagues on the Federal Reserve Board or the Federal Open Market Committee.
Road Map of Talk
- Liquidity facilities and their purposes
- How it works in the U.S.
- Daylight overdrafts
- Discount window
- Short-term credit provision across jurisdictions
- Conclusion
Federal Reserve Liquidity Provision
Intraday Credit
(Daylight Overdrafts)
- Smooths payment mismatches during the day
- Provided to banks and other depository institutions
- Provided free of charge (if collateralized)
- May be uncollateralized
Short-Term Credit
(Discount Window)
- Smooths funding fluctuations overnight or during short periods
- Provided to banks and other depository institutions
- Interest rate linked to monetary policy
- Always collateralized
Figure 1. Liquidity Facilities and Their Functions
The figure classifies the lending facilities of four central banks into three types:
- Intraday (green)
- Business-as-usual Overnight Liquidity (blue)
- Stress-related Temporary Liquidity (purple)
The nine central banks are: Federal Reserve (Fed), European Central Bank (ECB), Bank of Japan (BoJ), and Bank of England (BoE).
The facilities of each central bank are represented by horizontally aligned boxes, which are assigned one or multiple colors.
In the following, each central bank is listed with the facilities that are shown from left to right and the colors/types that are assigned to each facility:
- Federal Reserve: Intraday (green), Discount Window: Primary Credit (blue and purple), Discount Window: Secondary Credit (purple)
- ECB: Intraday (green), Marginal Lending Facility (blue and purple),
- BoJ: Intraday (green), Complementary Lending Facility (blue), Prudential Policy Loans (purple)
- Bank of England: Intraday (green), Operational Standing Facility (blue), Discount Window (blue and purple).
Source: Arseneau, David, Mark Carlson, Kathryn Chen, Matt Darst, Dylan Kirkeeng, Elizabeth Klee, Matt Malloy, Benjamin Malin, Emilie O’Malley, Friederike Niepmann, Mary-Frances Styczynski, Melissa Vanouse, and Alexandros P. Vardoulakis (2025). "Central Bank Liquidity Facilities around the World," FEDS Notes. Washington: Board of Governors of the Federal Reserve System, February 26, 2025.
Figure 2. Short-Term Liquidity Provision across Central Banks
Percent of 2019 central bank assets
| Date | Country | Percent of discount window usage to central bank assets |
|---|---|---|
| 2005-01-01 | U.S. | 0.001006319 |
| 2005-02-01 | U.S. | 0.00014376 |
| 2005-03-01 | U.S. | 0.0002396 |
| 2005-04-01 | U.S. | 9.58E-05 |
| 2005-05-01 | U.S. | 7.19E-05 |
| 2005-06-01 | U.S. | 0.000694839 |
| 2005-07-01 | U.S. | 0.00028752 |
| 2005-08-01 | U.S. | 0.00052712 |
| 2005-09-01 | U.S. | 0.00040732 |
| 2005-10-01 | U.S. | 0.00019168 |
| 2005-11-01 | U.S. | 9.58E-05 |
| 2005-12-01 | U.S. | 0.000982359 |
| 2006-01-01 | U.S. | 4.79E-05 |
| 2006-02-01 | U.S. | 0.00033544 |
| 2006-03-01 | U.S. | 0.004600316 |
| 2006-04-01 | U.S. | 2.40E-05 |
| 2006-05-01 | U.S. | 0.0004792 |
| 2006-06-01 | U.S. | 0.00026356 |
| 2006-07-01 | U.S. | 0.000599 |
| 2006-08-01 | U.S. | 0.007930754 |
| 2006-09-01 | U.S. | 0.00026356 |
| 2006-10-01 | U.S. | 0.00014376 |
| 2006-11-01 | U.S. | 0.00062296 |
| 2006-12-01 | U.S. | 0.009751712 |
| 2007-01-01 | U.S. | 0.031363615 |
| 2007-02-01 | U.S. | 0 |
| 2007-03-01 | U.S. | 0 |
| 2007-04-01 | U.S. | 0 |
| 2007-05-01 | U.S. | 2.40E-05 |
| 2007-06-01 | U.S. | 0.0001198 |
| 2007-07-01 | U.S. | 7.19E-05 |
| 2007-08-01 | U.S. | 0.026379939 |
| 2007-09-01 | U.S. | 0 |
| 2007-10-01 | U.S. | 0.0002396 |
| 2007-11-01 | U.S. | 0.00019168 |
| 2007-12-01 | U.S. | 0.108131395 |
| 2008-01-01 | U.S. | 0.001030279 |
| 2008-02-01 | U.S. | 0.016364667 |
| 2008-03-01 | U.S. | 0.013872829 |
| 2008-04-01 | U.S. | 0.286657214 |
| 2008-05-01 | U.S. | 0.456222 |
| 2008-06-01 | U.S. | 0.326742262 |
| 2008-07-01 | U.S. | 0.414004513 |
| 2008-08-01 | U.S. | 0.452867602 |
| 2008-09-01 | U.S. | 0.942274176 |
| 2008-10-01 | U.S. | 2.653256425 |
| 2008-11-01 | U.S. | 2.197729265 |
| 2008-12-01 | U.S. | 2.246703466 |
| 2009-01-01 | U.S. | 1.636179188 |
| 2009-02-01 | U.S. | 1.571535159 |
| 2009-03-01 | U.S. | 1.46886664 |
| 2009-04-01 | U.S. | 1.084452704 |
| 2009-05-01 | U.S. | 0.9116054 |
| 2009-06-01 | U.S. | 1.178735229 |
| 2009-07-01 | U.S. | 0.871424512 |
| 2009-08-01 | U.S. | 0.729773104 |
| 2009-09-01 | U.S. | 0.676294426 |
| 2009-10-01 | U.S. | 0.539770454 |
| 2009-11-01 | U.S. | 0.477306783 |
| 2009-12-01 | U.S. | 0.457899198 |
| 2010-01-01 | U.S. | 0.353625361 |
| 2010-02-01 | U.S. | 0.32952162 |
| 2010-03-01 | U.S. | 0.179891538 |
| 2010-04-01 | U.S. | 0.131995536 |
| 2010-05-01 | U.S. | 0.10084756 |
| 2010-06-01 | U.S. | 0.014639548 |
| 2010-07-01 | U.S. | 0.00062296 |
| 2010-08-01 | U.S. | 9.58E-05 |
| 2010-09-01 | U.S. | 0.002372038 |
| 2010-10-01 | U.S. | 0.001126119 |
| 2010-11-01 | U.S. | 0.02489442 |
| 2010-12-01 | U.S. | 0.001389679 |
| 2011-01-01 | U.S. | 0.001293839 |
| 2011-02-01 | U.S. | 0.00057504 |
| 2011-03-01 | U.S. | 0.000646919 |
| 2011-04-01 | U.S. | 0.00031148 |
| 2011-05-01 | U.S. | 0.00016772 |
| 2011-06-01 | U.S. | 0.00040732 |
| 2011-07-01 | U.S. | 0.0001198 |
| 2011-08-01 | U.S. | 0.00040732 |
| 2011-09-01 | U.S. | 0.000958399 |
| 2011-10-01 | U.S. | 2.40E-05 |
| 2011-11-01 | U.S. | 0.002707478 |
| 2011-12-01 | U.S. | 0.001006319 |
| 2012-01-01 | U.S. | 0.00016772 |
| 2012-02-01 | U.S. | 0.0003594 |
| 2012-03-01 | U.S. | 2.40E-05 |
| 2012-04-01 | U.S. | 0.00026356 |
| 2012-05-01 | U.S. | 0.001221959 |
| 2012-06-01 | U.S. | 0.00043128 |
| 2012-07-01 | U.S. | 4.79E-05 |
| 2012-08-01 | U.S. | 0.001221959 |
| 2012-09-01 | U.S. | 0.002276198 |
| 2012-10-01 | U.S. | 0.000886519 |
| 2012-11-01 | U.S. | 0.001341759 |
| 2012-12-01 | U.S. | 0.00062296 |
| 2013-01-01 | U.S. | 0.000670879 |
| 2013-02-01 | U.S. | 0.0002396 |
| 2013-03-01 | U.S. | 9.58E-05 |
| 2013-04-01 | U.S. | 0.0004792 |
| 2013-05-01 | U.S. | 0.001126119 |
| 2013-06-01 | U.S. | 0.000694839 |
| 2013-07-01 | U.S. | 0.00019168 |
| 2013-08-01 | U.S. | 0.000694839 |
| 2013-09-01 | U.S. | 0.00033544 |
| 2013-10-01 | U.S. | 2.40E-05 |
| 2013-11-01 | U.S. | 0.00028752 |
| 2013-12-01 | U.S. | 0.000599 |
| 2014-01-01 | U.S. | 0.00031148 |
| 2014-02-01 | U.S. | 4.79E-05 |
| 2014-03-01 | U.S. | 0.00031148 |
| 2014-04-01 | U.S. | 0.00031148 |
| 2014-05-01 | U.S. | 9.58E-05 |
| 2014-06-01 | U.S. | 0.001988678 |
| 2014-07-01 | U.S. | 0.000599 |
| 2014-08-01 | U.S. | 0.001341759 |
| 2014-09-01 | U.S. | 0.000742759 |
| 2014-10-01 | U.S. | 0.000670879 |
| 2014-11-01 | U.S. | 7.19E-05 |
| 2014-12-01 | U.S. | 0.001892839 |
| 2015-01-01 | U.S. | 0.00052712 |
| 2015-02-01 | U.S. | 7.19E-05 |
| 2015-03-01 | U.S. | 4.79E-05 |
| 2015-04-01 | U.S. | 0.00045524 |
| 2015-05-01 | U.S. | 0.0001198 |
| 2015-06-01 | U.S. | 0.001174039 |
| 2015-07-01 | U.S. | 0.00019168 |
| 2015-08-01 | U.S. | 0.00019168 |
| 2015-09-01 | U.S. | 0.00038336 |
| 2015-10-01 | U.S. | 0 |
| 2015-11-01 | U.S. | 7.19E-05 |
| 2015-12-01 | U.S. | 0.01324987 |
| 2016-01-01 | U.S. | 0.002659558 |
| 2016-02-01 | U.S. | 0.0002396 |
| 2016-03-01 | U.S. | 0.00040732 |
| 2016-04-01 | U.S. | 0.0003594 |
| 2016-05-01 | U.S. | 0.000886519 |
| 2016-06-01 | U.S. | 0.000646919 |
| 2016-07-01 | U.S. | 0.002467878 |
| 2016-08-01 | U.S. | 2.40E-05 |
| 2016-09-01 | U.S. | 0.00055108 |
| 2016-10-01 | U.S. | 4.79E-05 |
| 2016-11-01 | U.S. | 0.0002396 |
| 2016-12-01 | U.S. | 0.00040732 |
| 2017-01-01 | U.S. | 0 |
| 2017-02-01 | U.S. | 0 |
| 2017-03-01 | U.S. | 0 |
| 2017-04-01 | U.S. | 0.00026356 |
| 2017-05-01 | U.S. | 0.00038336 |
| 2017-06-01 | U.S. | 0.002012638 |
| 2017-07-01 | U.S. | 0.00031148 |
| 2017-08-01 | U.S. | 9.58E-05 |
| 2017-09-01 | U.S. | 0.00028752 |
| 2017-10-01 | U.S. | 0.0003594 |
| 2017-11-01 | U.S. | 0.00057504 |
| 2017-12-01 | U.S. | 0.002587678 |
| 2018-01-01 | U.S. | 0.001102159 |
| 2018-02-01 | U.S. | 0.00031148 |
| 2018-03-01 | U.S. | 4.79E-05 |
| 2018-04-01 | U.S. | 0.000814639 |
| 2018-05-01 | U.S. | 0.000910479 |
| 2018-06-01 | U.S. | 0.00016772 |
| 2018-07-01 | U.S. | 4.79E-05 |
| 2018-08-01 | U.S. | 0.000934439 |
| 2018-09-01 | U.S. | 0.001533439 |
| 2018-10-01 | U.S. | 0.001461559 |
| 2018-11-01 | U.S. | 9.58E-05 |
| 2018-12-01 | U.S. | 0.00028752 |
| 2019-01-01 | U.S. | 0.000646919 |
| 2019-02-01 | U.S. | 7.19E-05 |
| 2019-03-01 | U.S. | 0.00050316 |
| 2019-04-01 | U.S. | 0.00033544 |
| 2019-05-01 | U.S. | 0.00026356 |
| 2019-06-01 | U.S. | 0.002443918 |
| 2019-07-01 | U.S. | 0.00014376 |
| 2019-08-01 | U.S. | 0.0001198 |
| 2019-09-01 | U.S. | 9.58E-05 |
| 2019-10-01 | U.S. | 0.000670879 |
| 2019-11-01 | U.S. | 0.0004792 |
| 2019-12-01 | U.S. | 2.40E-05 |
| 2020-01-01 | U.S. | 0.000814639 |
| 2020-02-01 | U.S. | 0.00031148 |
| 2020-03-01 | U.S. | 1.21640032 |
| 2020-04-01 | U.S. | 0.760945039 |
| 2020-05-01 | U.S. | 0.436023736 |
| 2020-06-01 | U.S. | 0.149438402 |
| 2020-07-01 | U.S. | 0.086519492 |
| 2020-08-01 | U.S. | 0.064787789 |
| 2020-09-01 | U.S. | 0.082350455 |
| 2020-10-01 | U.S. | 0.066848347 |
| 2020-11-01 | U.S. | 0.058174834 |
| 2020-12-01 | U.S. | 0.041570567 |
| 2021-01-01 | U.S. | 0.047656402 |
| 2021-02-01 | U.S. | 0.05012428 |
| 2021-03-01 | U.S. | 0.019838864 |
| 2021-04-01 | U.S. | 0.017514746 |
| 2021-05-01 | U.S. | 0.015166668 |
| 2021-06-01 | U.S. | 0.011428911 |
| 2021-07-01 | U.S. | 0.011309111 |
| 2021-08-01 | U.S. | 0.006660875 |
| 2021-09-01 | U.S. | 0.014519749 |
| 2021-10-01 | U.S. | 0.014495789 |
| 2021-11-01 | U.S. | 0.007547394 |
| 2021-12-01 | U.S. | 0.015334388 |
| 2022-01-01 | U.S. | 0.008266193 |
| 2022-02-01 | U.S. | 0.03795261 |
| 2022-03-01 | U.S. | 0.008481833 |
| 2022-04-01 | U.S. | 0.069891265 |
| 2022-05-01 | U.S. | 0.021875463 |
| 2022-06-01 | U.S. | 0.086351772 |
| 2022-07-01 | U.S. | 0.08889153 |
| 2022-08-01 | U.S. | 0.125813861 |
| 2022-09-01 | U.S. | 0.155021078 |
| 2022-10-01 | U.S. | 0.133816494 |
| 2022-11-01 | U.S. | 0.241636409 |
| 2022-12-01 | U.S. | 0.111126392 |
| 2023-01-01 | U.S. | 0.122339663 |
| 2023-02-01 | U.S. | 0.109209594 |
| 2023-03-01 | U.S. | 2.112240052 |
| 2023-04-01 | U.S. | 1.769564403 |
| 2023-05-01 | U.S. | 0.095145085 |
| 2023-06-01 | U.S. | 0.076887579 |
| 2023-07-01 | U.S. | 0.053885997 |
| 2023-08-01 | U.S. | 0.069651665 |
| 2023-09-01 | U.S. | 0.07650422 |
| 2023-10-01 | U.S. | 0.07595314 |
| 2023-11-01 | U.S. | 0.053718278 |
| 2023-12-01 | U.S. | 0.059708273 |
| 2024-01-01 | U.S. | 0.07640838 |
| 2024-02-01 | U.S. | 0.05043576 |
| 2024-03-01 | U.S. | 0.150229081 |
| 2024-04-01 | U.S. | 0.168151147 |
| 2024-05-01 | U.S. | 0.157512916 |
| 2024-06-01 | U.S. | 0.168342827 |
| 2024-07-01 | U.S. | 0.165922869 |
| 2024-08-01 | U.S. | 0.040228808 |
| 2024-09-01 | U.S. | 0.032705374 |
| 2024-10-01 | U.S. | 0.036059772 |
| 2024-11-01 | U.S. | 0.059852033 |
| 2024-12-01 | U.S. | 0.049261721 |
| 2005-01-01 | Euro area | 0 |
| 2005-02-01 | Euro area | 0.000514242 |
| 2005-03-01 | Euro area | 0.051145656 |
| 2005-04-01 | Euro area | 6.43E-05 |
| 2005-05-01 | Euro area | 0.00158558 |
| 2005-06-01 | Euro area | 0.027233401 |
| 2005-07-01 | Euro area | 0.000149987 |
| 2005-08-01 | Euro area | 0.000299975 |
| 2005-09-01 | Euro area | 0.010970497 |
| 2005-10-01 | Euro area | 0.003856815 |
| 2005-11-01 | Euro area | 0.000492815 |
| 2005-12-01 | Euro area | 0.020333987 |
| 2006-01-01 | Euro area | 0.000407108 |
| 2006-02-01 | Euro area | 0.000599949 |
| 2006-03-01 | Euro area | 0.001135618 |
| 2006-04-01 | Euro area | 0.001564153 |
| 2006-05-01 | Euro area | 0.000299975 |
| 2006-06-01 | Euro area | 0.001178471 |
| 2006-07-01 | Euro area | 0.068822726 |
| 2006-08-01 | Euro area | 0.007006548 |
| 2006-09-01 | Euro area | 0.01094907 |
| 2006-10-01 | Euro area | 0.000599949 |
| 2006-11-01 | Euro area | 0.000171414 |
| 2006-12-01 | Euro area | 0.001885554 |
| 2007-01-01 | Euro area | 0.00257121 |
| 2007-02-01 | Euro area | 0.000214268 |
| 2007-03-01 | Euro area | 0.001371312 |
| 2007-04-01 | Euro area | 0.008742115 |
| 2007-05-01 | Euro area | 0.046196077 |
| 2007-06-01 | Euro area | 0.023655134 |
| 2007-07-01 | Euro area | 0 |
| 2007-08-01 | Euro area | 0.002356943 |
| 2007-09-01 | Euro area | 0.004606752 |
| 2007-10-01 | Euro area | 0.001928408 |
| 2007-11-01 | Euro area | 0.001285605 |
| 2007-12-01 | Euro area | 0.001949834 |
| 2008-01-01 | Euro area | 0.000535669 |
| 2008-02-01 | Euro area | 0 |
| 2008-03-01 | Euro area | 0 |
| 2008-04-01 | Euro area | 0.003835389 |
| 2008-05-01 | Euro area | 0.016948561 |
| 2008-06-01 | Euro area | 0.05375972 |
| 2008-07-01 | Euro area | 0.000814217 |
| 2008-08-01 | Euro area | 0.000835643 |
| 2008-09-01 | Euro area | 0.341670982 |
| 2008-10-01 | Euro area | 0.240622421 |
| 2008-11-01 | Euro area | 0.093742039 |
| 2008-12-01 | Euro area | 0.086949758 |
| 2009-01-01 | Euro area | 0.103619771 |
| 2009-02-01 | Euro area | 0.013948815 |
| 2009-03-01 | Euro area | 0.017934191 |
| 2009-04-01 | Euro area | 0.058987847 |
| 2009-05-01 | Euro area | 0.00422107 |
| 2009-06-01 | Euro area | 0.009492051 |
| 2009-07-01 | Euro area | 0.00323544 |
| 2009-08-01 | Euro area | 0.002464076 |
| 2009-09-01 | Euro area | 0.104669682 |
| 2009-10-01 | Euro area | 0.002956892 |
| 2009-11-01 | Euro area | 0.002164102 |
| 2009-12-01 | Euro area | 0.02764051 |
| 2010-01-01 | Euro area | 0.001885554 |
| 2010-02-01 | Euro area | 0.003813962 |
| 2010-03-01 | Euro area | 0.043989121 |
| 2010-04-01 | Euro area | 0.016155771 |
| 2010-05-01 | Euro area | 0.023376586 |
| 2010-06-01 | Euro area | 0.000578522 |
| 2010-07-01 | Euro area | 0.007842191 |
| 2010-08-01 | Euro area | 0.033104331 |
| 2010-09-01 | Euro area | 0.075100765 |
| 2010-10-01 | Euro area | 0.005656662 |
| 2010-11-01 | Euro area | 0.052452688 |
| 2010-12-01 | Euro area | 0.000535669 |
| 2011-01-01 | Euro area | 0.006513733 |
| 2011-02-01 | Euro area | 0.349727441 |
| 2011-03-01 | Euro area | 0.024683618 |
| 2011-04-01 | Euro area | 6.43E-05 |
| 2011-05-01 | Euro area | 0.001178471 |
| 2011-06-01 | Euro area | 0.025776382 |
| 2011-07-01 | Euro area | 0.000599949 |
| 2011-08-01 | Euro area | 0.000385682 |
| 2011-09-01 | Euro area | 0.030297427 |
| 2011-10-01 | Euro area | 0.069872637 |
| 2011-11-01 | Euro area | 0.099377274 |
| 2011-12-01 | Euro area | 0.31760874 |
| 2012-01-01 | Euro area | 0.03443279 |
| 2012-02-01 | Euro area | 0.063487465 |
| 2012-03-01 | Euro area | 0.034604204 |
| 2012-04-01 | Euro area | 0.012984612 |
| 2012-05-01 | Euro area | 0.016134344 |
| 2012-06-01 | Euro area | 0.015127287 |
| 2012-07-01 | Euro area | 0.022883771 |
| 2012-08-01 | Euro area | 0.012641783 |
| 2012-09-01 | Euro area | 0.043860561 |
| 2012-10-01 | Euro area | 0.166121606 |
| 2012-11-01 | Euro area | 0.040860815 |
| 2012-12-01 | Euro area | 0.012577503 |
| 2013-01-01 | Euro area | 0.007177962 |
| 2013-02-01 | Euro area | 0.005463822 |
| 2013-03-01 | Euro area | 0.032290115 |
| 2013-04-01 | Euro area | 0.000428535 |
| 2013-05-01 | Euro area | 0.000514242 |
| 2013-06-01 | Euro area | 0.000621376 |
| 2013-07-01 | Euro area | 0.000535669 |
| 2013-08-01 | Euro area | 0.002806904 |
| 2013-09-01 | Euro area | 0.014763032 |
| 2013-10-01 | Euro area | 0.00923493 |
| 2013-11-01 | Euro area | 0.00158558 |
| 2013-12-01 | Euro area | 0.006449452 |
| 2014-01-01 | Euro area | 0.005463822 |
| 2014-02-01 | Euro area | 0.016627159 |
| 2014-03-01 | Euro area | 0.114804536 |
| 2014-04-01 | Euro area | 0.004071083 |
| 2014-05-01 | Euro area | 0.001371312 |
| 2014-06-01 | Euro area | 0.066208663 |
| 2014-07-01 | Euro area | 0.004049656 |
| 2014-08-01 | Euro area | 0.019648331 |
| 2014-09-01 | Euro area | 0.024490777 |
| 2014-10-01 | Euro area | 0.021491032 |
| 2014-11-01 | Euro area | 0.014613045 |
| 2014-12-01 | Euro area | 0.019798319 |
| 2015-01-01 | Euro area | 0.004649605 |
| 2015-02-01 | Euro area | 0.006985121 |
| 2015-03-01 | Euro area | 0.006020917 |
| 2015-04-01 | Euro area | 0.000878497 |
| 2015-05-01 | Euro area | 0.00164986 |
| 2015-06-01 | Euro area | 0.010541962 |
| 2015-07-01 | Euro area | 0.002956892 |
| 2015-08-01 | Euro area | 0.058645019 |
| 2015-09-01 | Euro area | 0.00494958 |
| 2015-10-01 | Euro area | 0.000878497 |
| 2015-11-01 | Euro area | 0.011891847 |
| 2015-12-01 | Euro area | 0.01002772 |
| 2016-01-01 | Euro area | 0.002014115 |
| 2016-02-01 | Euro area | 0.012577503 |
| 2016-03-01 | Euro area | 0.001071338 |
| 2016-04-01 | Euro area | 0.003042599 |
| 2016-05-01 | Euro area | 0.006535159 |
| 2016-06-01 | Euro area | 0.002806904 |
| 2016-07-01 | Euro area | 0.000942777 |
| 2016-08-01 | Euro area | 6.43E-05 |
| 2016-09-01 | Euro area | 0.000428535 |
| 2016-10-01 | Euro area | 0.016991414 |
| 2016-11-01 | Euro area | 0.011184764 |
| 2016-12-01 | Euro area | 0.003685401 |
| 2017-01-01 | Euro area | 0.003042599 |
| 2017-02-01 | Euro area | 0.003535414 |
| 2017-03-01 | Euro area | 0.006106624 |
| 2017-04-01 | Euro area | 0.007735057 |
| 2017-05-01 | Euro area | 0.003792535 |
| 2017-06-01 | Euro area | 0.006470879 |
| 2017-07-01 | Euro area | 0.005420968 |
| 2017-08-01 | Euro area | 0.005356688 |
| 2017-09-01 | Euro area | 0.003621121 |
| 2017-10-01 | Euro area | 0.003685401 |
| 2017-11-01 | Euro area | 0.001392739 |
| 2017-12-01 | Euro area | 0.006406599 |
| 2018-01-01 | Euro area | 0.001607006 |
| 2018-02-01 | Euro area | 0.001928408 |
| 2018-03-01 | Euro area | 0.004049656 |
| 2018-04-01 | Euro area | 0.000428535 |
| 2018-05-01 | Euro area | 0.003106879 |
| 2018-06-01 | Euro area | 0.001264178 |
| 2018-07-01 | Euro area | 0.004435338 |
| 2018-08-01 | Euro area | 0.000642803 |
| 2018-09-01 | Euro area | 0.002785478 |
| 2018-10-01 | Euro area | 0.013177452 |
| 2018-11-01 | Euro area | 0.005485248 |
| 2018-12-01 | Euro area | 0.001071338 |
| 2019-01-01 | Euro area | 0.002399796 |
| 2019-02-01 | Euro area | 0 |
| 2019-03-01 | Euro area | 0.011463312 |
| 2019-04-01 | Euro area | 0.000471389 |
| 2019-05-01 | Euro area | 0.00257121 |
| 2019-06-01 | Euro area | 8.57E-05 |
| 2019-07-01 | Euro area | 0.000171414 |
| 2019-08-01 | Euro area | 0 |
| 2019-09-01 | Euro area | 0.002742624 |
| 2019-10-01 | Euro area | 0.004713885 |
| 2019-11-01 | Euro area | 0.00092135 |
| 2019-12-01 | Euro area | 0.002999745 |
| 2020-01-01 | Euro area | 0 |
| 2020-02-01 | Euro area | 0 |
| 2020-03-01 | Euro area | 0 |
| 2020-04-01 | Euro area | 0 |
| 2020-05-01 | Euro area | 0.001071338 |
| 2020-06-01 | Euro area | 0 |
| 2020-07-01 | Euro area | 0 |
| 2020-08-01 | Euro area | 0 |
| 2020-09-01 | Euro area | 0.001178471 |
| 2020-10-01 | Euro area | 0.000428535 |
| 2020-11-01 | Euro area | 0.000321401 |
| 2020-12-01 | Euro area | 0.003256866 |
| 2021-01-01 | Euro area | 0 |
| 2021-02-01 | Euro area | 0 |
| 2021-03-01 | Euro area | 0.000214268 |
| 2021-04-01 | Euro area | 0 |
| 2021-05-01 | Euro area | 0 |
| 2021-06-01 | Euro area | 0 |
| 2021-07-01 | Euro area | 0.001521299 |
| 2021-08-01 | Euro area | 0 |
| 2021-09-01 | Euro area | 0 |
| 2021-10-01 | Euro area | 4.29E-05 |
| 2021-11-01 | Euro area | 2.14E-05 |
| 2021-12-01 | Euro area | 0 |
| 2022-01-01 | Euro area | 2.14E-05 |
| 2022-02-01 | Euro area | 0 |
| 2022-03-01 | Euro area | 0.001071338 |
| 2022-04-01 | Euro area | 0 |
| 2022-05-01 | Euro area | 0.00085707 |
| 2022-06-01 | Euro area | 0 |
| 2022-07-01 | Euro area | 0 |
| 2022-08-01 | Euro area | 2.14E-05 |
| 2022-09-01 | Euro area | 0.00599949 |
| 2022-10-01 | Euro area | 0.001307032 |
| 2022-11-01 | Euro area | 0.002999745 |
| 2022-12-01 | Euro area | 0.011120484 |
| 2023-01-01 | Euro area | 0.002356943 |
| 2023-02-01 | Euro area | 0.003856815 |
| 2023-03-01 | Euro area | 0.003599694 |
| 2023-04-01 | Euro area | 0.003856815 |
| 2023-05-01 | Euro area | 0.002164102 |
| 2023-06-01 | Euro area | 0.003214013 |
| 2023-07-01 | Euro area | 0.003642548 |
| 2023-08-01 | Euro area | 0.003278293 |
| 2023-09-01 | Euro area | 0 |
| 2023-10-01 | Euro area | 0.001071338 |
| 2023-11-01 | Euro area | 0.00072851 |
| 2023-12-01 | Euro area | 0.000214268 |
| 2024-01-01 | Euro area | 0.002164102 |
| 2024-02-01 | Euro area | 0.003106879 |
| 2024-03-01 | Euro area | 0 |
| 2024-04-01 | Euro area | 0 |
| 2024-05-01 | Euro area | 0 |
| 2024-06-01 | Euro area | 0.001392739 |
| 2024-07-01 | Euro area | 0 |
| 2024-08-01 | Euro area | 0 |
| 2024-09-01 | Euro area | 8.57E-05 |
| 2024-10-01 | Euro area | 0 |
| 2024-11-01 | Euro area | 0 |
| 2024-12-01 | Euro area | 0.001028484 |
| 2005-01-01 | Japan | 0.000856769 |
| 2005-02-01 | Japan | 0 |
| 2005-03-01 | Japan | 0.000699403 |
| 2005-04-01 | Japan | 0 |
| 2005-05-01 | Japan | 0.000856769 |
| 2005-06-01 | Japan | 0.000856769 |
| 2005-07-01 | Japan | 0.000856769 |
| 2005-08-01 | Japan | 0.000856769 |
| 2005-09-01 | Japan | 0 |
| 2005-10-01 | Japan | 0 |
| 2005-11-01 | Japan | 0 |
| 2005-12-01 | Japan | 0 |
| 2006-01-01 | Japan | 0 |
| 2006-02-01 | Japan | 0 |
| 2006-03-01 | Japan | 0.005245525 |
| 2006-04-01 | Japan | 0 |
| 2006-05-01 | Japan | 0.044621931 |
| 2006-06-01 | Japan | 0.123444685 |
| 2006-07-01 | Japan | 0.000174851 |
| 2006-08-01 | Japan | 0 |
| 2006-09-01 | Japan | 0.129022426 |
| 2006-10-01 | Japan | 0 |
| 2006-11-01 | Japan | 0 |
| 2006-12-01 | Japan | 0 |
| 2007-01-01 | Japan | 0 |
| 2007-02-01 | Japan | 0.017310232 |
| 2007-03-01 | Japan | 0.48641752 |
| 2007-04-01 | Japan | 0 |
| 2007-05-01 | Japan | 1.75E-05 |
| 2007-06-01 | Japan | 0 |
| 2007-07-01 | Japan | 0 |
| 2007-08-01 | Japan | 0 |
| 2007-09-01 | Japan | 0 |
| 2007-10-01 | Japan | 0 |
| 2007-11-01 | Japan | 0 |
| 2007-12-01 | Japan | 0.003671867 |
| 2008-01-01 | Japan | 0 |
| 2008-02-01 | Japan | 0 |
| 2008-03-01 | Japan | 0.016610829 |
| 2008-04-01 | Japan | 0 |
| 2008-05-01 | Japan | 0 |
| 2008-06-01 | Japan | 0 |
| 2008-07-01 | Japan | 0 |
| 2008-08-01 | Japan | 1.75E-05 |
| 2008-09-01 | Japan | 0.241434024 |
| 2008-10-01 | Japan | 0.168031646 |
| 2008-11-01 | Japan | 0.00743116 |
| 2008-12-01 | Japan | 0.044691872 |
| 2009-01-01 | Japan | 0.000174851 |
| 2009-02-01 | Japan | 0 |
| 2009-03-01 | Japan | 0.010351169 |
| 2009-04-01 | Japan | 0.000786829 |
| 2009-05-01 | Japan | 0.000786829 |
| 2009-06-01 | Japan | 0.000419642 |
| 2009-07-01 | Japan | 0.000839284 |
| 2009-08-01 | Japan | 0.000839284 |
| 2009-09-01 | Japan | 0.000577008 |
| 2009-10-01 | Japan | 0.000839284 |
| 2009-11-01 | Japan | 0.000839284 |
| 2009-12-01 | Japan | 0.000839284 |
| 2010-01-01 | Japan | 0.000839284 |
| 2010-02-01 | Japan | 0.000577008 |
| 2010-03-01 | Japan | 0.000839284 |
| 2010-04-01 | Japan | 0.000786829 |
| 2010-05-01 | Japan | 0 |
| 2010-06-01 | Japan | 0.000751859 |
| 2010-07-01 | Japan | 0.000804314 |
| 2010-08-01 | Japan | 0.000821799 |
| 2010-09-01 | Japan | 0.000734373 |
| 2010-10-01 | Japan | 0.000507067 |
| 2010-11-01 | Japan | 0.000611978 |
| 2010-12-01 | Japan | 0.000629463 |
| 2011-01-01 | Japan | 0.000611978 |
| 2011-02-01 | Japan | 0.000594493 |
| 2011-03-01 | Japan | 0.003497017 |
| 2011-04-01 | Japan | 0.000577008 |
| 2011-05-01 | Japan | 0.000681918 |
| 2011-06-01 | Japan | 0.000681918 |
| 2011-07-01 | Japan | 0.000699403 |
| 2011-08-01 | Japan | 1.75E-05 |
| 2011-09-01 | Japan | 0 |
| 2011-10-01 | Japan | 0.000577008 |
| 2011-11-01 | Japan | 0.000699403 |
| 2011-12-01 | Japan | 0.000804314 |
| 2012-01-01 | Japan | 0.000611978 |
| 2012-02-01 | Japan | 0 |
| 2012-03-01 | Japan | 0.001223956 |
| 2012-04-01 | Japan | 0.000611978 |
| 2012-05-01 | Japan | 0.000594493 |
| 2012-06-01 | Japan | 0 |
| 2012-07-01 | Japan | 0.000786829 |
| 2012-08-01 | Japan | 0.000786829 |
| 2012-09-01 | Japan | 0.000786829 |
| 2012-10-01 | Japan | 0.000786829 |
| 2012-11-01 | Japan | 0.000332217 |
| 2012-12-01 | Japan | 0 |
| 2013-01-01 | Japan | 0 |
| 2013-02-01 | Japan | 0.000174851 |
| 2013-03-01 | Japan | 0.000174851 |
| 2013-04-01 | Japan | 1.75E-05 |
| 2013-05-01 | Japan | 0 |
| 2013-06-01 | Japan | 5.25E-05 |
| 2013-07-01 | Japan | 0 |
| 2013-08-01 | Japan | 0 |
| 2013-09-01 | Japan | 0 |
| 2013-10-01 | Japan | 0 |
| 2013-11-01 | Japan | 0 |
| 2013-12-01 | Japan | 0.000297246 |
| 2014-01-01 | Japan | 0.000542038 |
| 2014-02-01 | Japan | 0.000542038 |
| 2014-03-01 | Japan | 0.000542038 |
| 2014-04-01 | Japan | 0.000664433 |
| 2014-05-01 | Japan | 0.000751859 |
| 2014-06-01 | Japan | 0.000804314 |
| 2014-07-01 | Japan | 0.000804314 |
| 2014-08-01 | Japan | 0.000804314 |
| 2014-09-01 | Japan | 0 |
| 2014-10-01 | Japan | 0 |
| 2014-11-01 | Japan | 0 |
| 2014-12-01 | Japan | 0.000804314 |
| 2015-01-01 | Japan | 0.000804314 |
| 2015-02-01 | Japan | 0.000804314 |
| 2015-03-01 | Japan | 0 |
| 2015-04-01 | Japan | 0 |
| 2015-05-01 | Japan | 0 |
| 2015-06-01 | Japan | 0 |
| 2015-07-01 | Japan | 0 |
| 2015-08-01 | Japan | 0 |
| 2015-09-01 | Japan | 0 |
| 2015-10-01 | Japan | 0 |
| 2015-11-01 | Japan | 0 |
| 2015-12-01 | Japan | 0 |
| 2016-01-01 | Japan | 0 |
| 2016-02-01 | Japan | 0 |
| 2016-03-01 | Japan | 0 |
| 2016-04-01 | Japan | 0 |
| 2016-05-01 | Japan | 0 |
| 2016-06-01 | Japan | 0 |
| 2016-07-01 | Japan | 0 |
| 2016-08-01 | Japan | 0 |
| 2016-09-01 | Japan | 0 |
| 2016-10-01 | Japan | 0 |
| 2016-11-01 | Japan | 0 |
| 2016-12-01 | Japan | 0 |
| 2017-01-01 | Japan | 0 |
| 2017-02-01 | Japan | 0 |
| 2017-03-01 | Japan | 0 |
| 2017-04-01 | Japan | 0 |
| 2017-05-01 | Japan | 0 |
| 2017-06-01 | Japan | 0 |
| 2017-07-01 | Japan | 0 |
| 2017-08-01 | Japan | 0 |
| 2017-09-01 | Japan | 0 |
| 2017-10-01 | Japan | 0 |
| 2017-11-01 | Japan | 0 |
| 2017-12-01 | Japan | 0 |
| 2018-01-01 | Japan | 0 |
| 2018-02-01 | Japan | 0 |
| 2018-03-01 | Japan | 0 |
| 2018-04-01 | Japan | 0 |
| 2018-05-01 | Japan | 0 |
| 2018-06-01 | Japan | 0 |
| 2018-07-01 | Japan | 0 |
| 2018-08-01 | Japan | 1.75E-05 |
| 2018-09-01 | Japan | 0 |
| 2018-10-01 | Japan | 0 |
| 2018-11-01 | Japan | 0 |
| 2018-12-01 | Japan | 0 |
| 2019-01-01 | Japan | 0 |
| 2019-02-01 | Japan | 0 |
| 2019-03-01 | Japan | 0 |
| 2019-04-01 | Japan | 0 |
| 2019-05-01 | Japan | 0 |
| 2019-06-01 | Japan | 0 |
| 2019-07-01 | Japan | 0 |
| 2019-08-01 | Japan | 1.75E-05 |
| 2019-09-01 | Japan | 0 |
| 2019-10-01 | Japan | 0 |
| 2019-11-01 | Japan | 0 |
| 2019-12-01 | Japan | 0 |
| 2020-01-01 | Japan | 0 |
| 2020-02-01 | Japan | 0 |
| 2020-03-01 | Japan | 0 |
| 2020-04-01 | Japan | 0 |
| 2020-05-01 | Japan | 0 |
| 2020-06-01 | Japan | 0 |
| 2020-07-01 | Japan | 0 |
| 2020-08-01 | Japan | 0 |
| 2020-09-01 | Japan | 0 |
| 2020-10-01 | Japan | 0 |
| 2020-11-01 | Japan | 0 |
| 2020-12-01 | Japan | 0 |
| 2021-01-01 | Japan | 0 |
| 2021-02-01 | Japan | 0 |
| 2021-03-01 | Japan | 0 |
| 2021-04-01 | Japan | 0 |
| 2021-05-01 | Japan | 0 |
| 2021-06-01 | Japan | 0 |
| 2021-07-01 | Japan | 0 |
| 2021-08-01 | Japan | 0 |
| 2021-09-01 | Japan | 0 |
| 2021-10-01 | Japan | 0 |
| 2021-11-01 | Japan | 0 |
| 2021-12-01 | Japan | 0 |
| 2022-01-01 | Japan | 0 |
| 2022-02-01 | Japan | 0 |
| 2022-03-01 | Japan | 0 |
| 2022-04-01 | Japan | 0 |
| 2022-05-01 | Japan | 0 |
| 2022-06-01 | Japan | 0 |
| 2022-07-01 | Japan | 0 |
| 2022-08-01 | Japan | 0 |
| 2022-09-01 | Japan | 0 |
| 2022-10-01 | Japan | 0 |
| 2022-11-01 | Japan | 0 |
| 2022-12-01 | Japan | 0 |
| 2023-01-01 | Japan | 0 |
| 2023-02-01 | Japan | 0 |
| 2023-03-01 | Japan | 0 |
| 2023-04-01 | Japan | 0 |
| 2023-05-01 | Japan | 0 |
| 2023-06-01 | Japan | 0 |
| 2023-07-01 | Japan | 0 |
| 2023-08-01 | Japan | 0 |
| 2023-09-01 | Japan | 0 |
| 2023-10-01 | Japan | 0 |
| 2023-11-01 | Japan | 0 |
| 2023-12-01 | Japan | 0 |
| 2024-01-01 | Japan | 0 |
| 2024-02-01 | Japan | 1.75E-05 |
| 2024-03-01 | Japan | 0 |
| 2024-04-01 | Japan | 0 |
| 2024-05-01 | Japan | 0 |
| 2024-06-01 | Japan | 0 |
| 2024-07-01 | Japan | 0 |
| 2024-08-01 | Japan | 0 |
| 2024-09-01 | Japan | 0 |
| 2024-10-01 | Japan | 0 |
| 2024-11-01 | Japan | 0 |
| 2024-12-01 | Japan | 0 |
| 2008-09-01 | U.K. | 0 |
| 2008-10-01 | U.K. | 0 |
| 2008-11-01 | U.K. | 0 |
| 2008-12-01 | U.K. | 0 |
| 2009-01-01 | U.K. | 0.007083378 |
| 2009-02-01 | U.K. | 0.007083378 |
| 2009-03-01 | U.K. | 0 |
| 2009-04-01 | U.K. | 0 |
| 2009-05-01 | U.K. | 0 |
| 2009-06-01 | U.K. | 0 |
| 2009-07-01 | U.K. | 0 |
| 2009-08-01 | U.K. | 0 |
| 2009-09-01 | U.K. | 0 |
| 2009-10-01 | U.K. | 0 |
| 2009-11-01 | U.K. | 0 |
| 2009-12-01 | U.K. | 0 |
| 2010-01-01 | U.K. | 0 |
| 2010-02-01 | U.K. | 0 |
| 2010-03-01 | U.K. | 0 |
| 2010-04-01 | U.K. | 0 |
| 2010-05-01 | U.K. | 0 |
| 2010-06-01 | U.K. | 0 |
| 2010-07-01 | U.K. | 0 |
| 2010-08-01 | U.K. | 0 |
| 2010-09-01 | U.K. | 0 |
| 2010-10-01 | U.K. | 0 |
| 2010-11-01 | U.K. | 0 |
| 2010-12-01 | U.K. | 0 |
| 2011-01-01 | U.K. | 0 |
| 2011-02-01 | U.K. | 0 |
| 2011-03-01 | U.K. | 0 |
| 2011-04-01 | U.K. | 0 |
| 2011-05-01 | U.K. | 0.000494189 |
| 2011-06-01 | U.K. | 0.002141486 |
| 2011-07-01 | U.K. | 0 |
| 2011-08-01 | U.K. | 0 |
| 2011-09-01 | U.K. | 0 |
| 2011-10-01 | U.K. | 0 |
| 2011-11-01 | U.K. | 0 |
| 2011-12-01 | U.K. | 0 |
| 2012-01-01 | U.K. | 0 |
| 2012-02-01 | U.K. | 0 |
| 2012-03-01 | U.K. | 0 |
| 2012-04-01 | U.K. | 0 |
| 2012-05-01 | U.K. | 0 |
| 2012-06-01 | U.K. | 0 |
| 2012-07-01 | U.K. | 0 |
| 2012-08-01 | U.K. | 0 |
| 2012-09-01 | U.K. | 0 |
| 2012-10-01 | U.K. | 0 |
| 2012-11-01 | U.K. | 0 |
| 2012-12-01 | U.K. | 0 |
| 2013-01-01 | U.K. | 0 |
| 2013-02-01 | U.K. | 0 |
| 2013-03-01 | U.K. | 0 |
| 2013-04-01 | U.K. | 0 |
| 2013-05-01 | U.K. | 0 |
| 2013-06-01 | U.K. | 0 |
| 2013-07-01 | U.K. | 0 |
| 2013-08-01 | U.K. | 0 |
| 2013-09-01 | U.K. | 0 |
| 2013-10-01 | U.K. | 0 |
| 2013-11-01 | U.K. | 0 |
| 2013-12-01 | U.K. | 0 |
| 2014-01-01 | U.K. | 0 |
| 2014-02-01 | U.K. | 0 |
| 2014-03-01 | U.K. | 0 |
| 2014-04-01 | U.K. | 0 |
| 2014-05-01 | U.K. | 0 |
| 2014-06-01 | U.K. | 0 |
| 2014-07-01 | U.K. | 0 |
| 2014-08-01 | U.K. | 0 |
| 2014-09-01 | U.K. | 0 |
| 2014-10-01 | U.K. | 0 |
| 2014-11-01 | U.K. | 0 |
| 2014-12-01 | U.K. | 0 |
| 2015-01-01 | U.K. | 0 |
| 2015-02-01 | U.K. | 0 |
| 2015-03-01 | U.K. | 0 |
| 2015-04-01 | U.K. | 0 |
| 2015-05-01 | U.K. | 0 |
| 2015-06-01 | U.K. | 0 |
| 2015-07-01 | U.K. | 0 |
| 2015-08-01 | U.K. | 0 |
| 2015-09-01 | U.K. | 0 |
| 2015-10-01 | U.K. | 0 |
| 2015-11-01 | U.K. | 0 |
| 2015-12-01 | U.K. | 0 |
| 2016-01-01 | U.K. | 0 |
| 2016-02-01 | U.K. | 0 |
| 2016-03-01 | U.K. | 0 |
| 2016-04-01 | U.K. | 0 |
| 2016-05-01 | U.K. | 0 |
| 2016-06-01 | U.K. | 0 |
| 2016-07-01 | U.K. | 0 |
| 2016-08-01 | U.K. | 0 |
| 2016-10-01 | U.K. | 0 |
| 2016-11-01 | U.K. | 0 |
| 2017-01-01 | U.K. | 0 |
| 2017-02-01 | U.K. | 0 |
| 2017-04-01 | U.K. | 0 |
| 2017-05-01 | U.K. | 0 |
| 2017-07-01 | U.K. | 0 |
| 2017-08-01 | U.K. | 0 |
| 2017-10-01 | U.K. | 0 |
| 2017-11-01 | U.K. | 0 |
| 2018-01-01 | U.K. | 0 |
| 2018-02-01 | U.K. | 0 |
| 2018-04-01 | U.K. | 0 |
| 2018-05-01 | U.K. | 0.000823649 |
| 2018-07-01 | U.K. | 0 |
| 2018-08-01 | U.K. | 0 |
| 2018-10-01 | U.K. | 0 |
| 2018-11-01 | U.K. | 0 |
| 2019-01-01 | U.K. | 0 |
| 2019-02-01 | U.K. | 0 |
| 2019-04-01 | U.K. | 0 |
| 2019-05-01 | U.K. | 0 |
| 2019-07-01 | U.K. | 0 |
| 2019-08-01 | U.K. | 0 |
| 2019-10-01 | U.K. | 0 |
| 2019-11-01 | U.K. | 0 |
| 2019-12-01 | U.K. | 0 |
| 2020-02-01 | U.K. | 0 |
| 2020-04-01 | U.K. | 0 |
| 2020-05-01 | U.K. | 0 |
| 2020-07-01 | U.K. | 0.494683348 |
| 2020-08-01 | U.K. | 0 |
| 2020-10-01 | U.K. | 0 |
| 2020-11-01 | U.K. | 0 |
| 2021-01-01 | U.K. | 0 |
| 2021-02-01 | U.K. | 0 |
| 2021-04-01 | U.K. | 0 |
| 2021-05-01 | U.K. | 0 |
| 2021-07-01 | U.K. | 0 |
| 2021-08-01 | U.K. | 0 |
| 2021-10-01 | U.K. | 0 |
| 2021-11-01 | U.K. | 0 |
| 2022-01-01 | U.K. | 0 |
| 2022-02-01 | U.K. | 0 |
| 2022-04-01 | U.K. | 0 |
| 2022-05-01 | U.K. | 0.240505391 |
| 2022-07-01 | U.K. | 0 |
| 2022-08-01 | U.K. | 0 |
| 2022-10-01 | U.K. | 0 |
| 2022-11-01 | U.K. | 0 |
| 2023-01-01 | U.K. | 0 |
| 2023-02-01 | U.K. | 0 |
| 2023-04-01 | U.K. | 0 |
| 2023-05-01 | U.K. | 0 |
| 2023-07-01 | U.K. | 0 |
| 2023-08-01 | U.K. | 0 |
| 2023-10-01 | U.K. | 0 |
| 2023-11-01 | U.K. | 0 |
| 2024-01-01 | U.K. | 0 |
| 2024-02-01 | U.K. | 0 |
| 2024-04-01 | U.K. | 0 |
| 2024-05-01 | U.K. | 0 |
| 2024-07-01 | U.K. | 0 |
| 2024-08-01 | U.K. | 0 |
| 2024-10-01 | U.K. | 0 |
| 2024-11-01 | U.K. | 0 |
Note: Data extend through Dec. 2024. U.S. values are for primary credit only. Usage is end-of-month values, except BOE which is the monthly average of daily values. Central bank assets are as of Dec. 31, 2019.
Source: European Central Bank (ECB), Marginal Lending Facility; Bank of Japan (BOJ), Complementary Lending Facility; Bank of England (BOE), Operational Standing Lending Facility; Federal Reserve (Fed), Primary Credit; via FRED.
Figure 3. Discount Window Usage as a Share of Federal Reserve Assets
Percent
| Date | Discount Window Usage |
|---|---|
| 2015-01-07 | 0.00051441 |
| 2015-01-14 | 0.0006842 |
| 2015-01-21 | 0.003430716 |
| 2015-01-28 | 0.000657924 |
| 2015-02-04 | 0.000311665 |
| 2015-02-11 | 0.000384389 |
| 2015-02-18 | 0.000131025 |
| 2015-02-25 | 0.000183403 |
| 2015-03-04 | 0.000398032 |
| 2015-03-11 | 0.000204175 |
| 2015-03-18 | 0.000223805 |
| 2015-03-25 | 0.00033712 |
| 2015-04-08 | 0.000705756 |
| 2015-04-15 | 0.000837657 |
| 2015-04-22 | 0.001361651 |
| 2015-05-06 | 0.001364454 |
| 2015-05-13 | 0.001881459 |
| 2015-05-20 | 0.002122474 |
| 2015-05-27 | 0.002153571 |
| 2015-06-03 | 0.00277823 |
| 2015-06-10 | 0.002949213 |
| 2015-06-17 | 0.004310916 |
| 2015-06-24 | 0.004606952 |
| 2015-07-08 | 0.003844095 |
| 2015-07-15 | 0.004110797 |
| 2015-07-22 | 0.004373622 |
| 2015-07-29 | 0.004384236 |
| 2015-08-05 | 0.004454778 |
| 2015-08-12 | 0.005308504 |
| 2015-08-19 | 0.007185203 |
| 2015-08-26 | 0.005654616 |
| 2015-09-02 | 0.00551616 |
| 2015-09-09 | 0.005517715 |
| 2015-09-16 | 0.005887866 |
| 2015-09-23 | 0.006295275 |
| 2015-10-07 | 0.0050306 |
| 2015-10-14 | 0.004892242 |
| 2015-10-21 | 0.00415209 |
| 2015-10-28 | 0.003708853 |
| 2015-11-04 | 0.002935273 |
| 2015-11-11 | 0.002504023 |
| 2015-11-18 | 0.002325886 |
| 2015-11-25 | 0.002096117 |
| 2015-12-02 | 0.001609377 |
| 2015-12-09 | 0.001811877 |
| 2015-12-16 | 0.001653847 |
| 2015-12-23 | 0.001619295 |
| 2016-01-06 | 0.003375291 |
| 2016-01-13 | 0.000639803 |
| 2016-01-20 | 0.000435992 |
| 2016-01-27 | 0.002769708 |
| 2016-02-03 | 0.000228661 |
| 2016-02-10 | 0.000242919 |
| 2016-02-17 | 0.001620495 |
| 2016-02-24 | 0.000433472 |
| 2016-03-02 | 0.000239188 |
| 2016-03-09 | 0.000274755 |
| 2016-03-16 | 0.000815031 |
| 2016-03-23 | 0.000396785 |
| 2016-04-06 | 0.000833662 |
| 2016-04-13 | 0.000907077 |
| 2016-04-20 | 0.001415549 |
| 2016-04-27 | 0.001573771 |
| 2016-05-04 | 0.001331593 |
| 2016-05-11 | 0.001516967 |
| 2016-05-18 | 0.001664893 |
| 2016-05-25 | 0.002686102 |
| 2016-06-08 | 0.002111776 |
| 2016-06-15 | 0.002715604 |
| 2016-06-22 | 0.003219739 |
| 2016-07-06 | 0.003294901 |
| 2016-07-13 | 0.006456551 |
| 2016-07-20 | 0.00447289 |
| 2016-07-27 | 0.006649728 |
| 2016-08-03 | 0.004156092 |
| 2016-08-10 | 0.004473085 |
| 2016-08-17 | 0.004735993 |
| 2016-08-24 | 0.005105122 |
| 2016-09-07 | 0.004210415 |
| 2016-09-14 | 0.004789837 |
| 2016-09-21 | 0.005126701 |
| 2016-09-28 | 0.00544573 |
| 2016-10-05 | 0.003884799 |
| 2016-10-12 | 0.003374388 |
| 2016-10-19 | 0.002100179 |
| 2016-10-26 | 0.00171681 |
| 2016-11-02 | 0.000791945 |
| 2016-11-09 | 0.000724475 |
| 2016-11-16 | 0.000637233 |
| 2016-11-23 | 0.001041587 |
| 2016-12-07 | 0.001771741 |
| 2016-12-14 | 0.001116849 |
| 2016-12-21 | 0.000931666 |
| 2016-12-28 | 0.001065765 |
| 2017-01-04 | 0.000897891 |
| 2017-01-11 | 0.000104638 |
| 2017-01-18 | 0.001086542 |
| 2017-01-25 | 9.0257E-05 |
| 2017-02-08 | 0.000243479 |
| 2017-02-15 | 0.000343931 |
| 2017-02-22 | 7.04903E-05 |
| 2017-03-08 | 0.000347165 |
| 2017-03-15 | 0.000331195 |
| 2017-03-22 | 0.000193603 |
| 2017-03-29 | 0.000240378 |
| 2017-04-05 | 0.000287889 |
| 2017-04-12 | 0.000530919 |
| 2017-04-19 | 0.001625756 |
| 2017-04-26 | 0.000982161 |
| 2017-05-03 | 0.001414304 |
| 2017-05-10 | 0.000998377 |
| 2017-05-17 | 0.001498531 |
| 2017-05-24 | 0.001281132 |
| 2017-06-07 | 0.001552849 |
| 2017-06-14 | 0.001727577 |
| 2017-06-21 | 0.002388508 |
| 2017-06-28 | 0.004291376 |
| 2017-07-05 | 0.002912963 |
| 2017-07-12 | 0.003386973 |
| 2017-07-19 | 0.004866914 |
| 2017-07-26 | 0.004416046 |
| 2017-08-02 | 0.004478395 |
| 2017-08-09 | 0.004650194 |
| 2017-08-16 | 0.004770674 |
| 2017-08-23 | 0.005290718 |
| 2017-09-06 | 0.004768031 |
| 2017-09-13 | 0.004931568 |
| 2017-09-20 | 0.005105845 |
| 2017-09-27 | 0.005234756 |
| 2017-10-04 | 0.003964647 |
| 2017-10-11 | 0.003553285 |
| 2017-10-18 | 0.00357096 |
| 2017-10-25 | 0.003350326 |
| 2017-11-08 | 0.001259512 |
| 2017-11-15 | 0.001145227 |
| 2017-11-22 | 0.001257849 |
| 2017-12-06 | 0.000957822 |
| 2017-12-13 | 0.000782397 |
| 2017-12-20 | 0.002516644 |
| 2017-12-27 | 0.003170244 |
| 2018-01-03 | 0.000992097 |
| 2018-01-10 | 0.002442543 |
| 2018-01-17 | 0.002214187 |
| 2018-01-24 | 0.001213604 |
| 2018-02-07 | 0.00071022 |
| 2018-02-14 | 0.000392729 |
| 2018-02-21 | 0.000742895 |
| 2018-03-07 | 0.000245695 |
| 2018-03-14 | 0.000337988 |
| 2018-03-21 | 0.000313913 |
| 2018-04-04 | 0.000556758 |
| 2018-04-11 | 0.000673999 |
| 2018-04-18 | 0.000974531 |
| 2018-04-25 | 0.001991362 |
| 2018-05-02 | 0.005063441 |
| 2018-05-09 | 0.001380315 |
| 2018-05-16 | 0.001690378 |
| 2018-05-23 | 0.002434002 |
| 2018-06-06 | 0.002758132 |
| 2018-06-13 | 0.003887437 |
| 2018-06-20 | 0.003748564 |
| 2018-06-27 | 0.00420426 |
| 2018-07-04 | 0.003942548 |
| 2018-07-11 | 0.004667947 |
| 2018-07-18 | 0.005221321 |
| 2018-07-25 | 0.005525774 |
| 2018-08-08 | 0.005982085 |
| 2018-08-15 | 0.005823917 |
| 2018-08-22 | 0.006728051 |
| 2018-08-29 | 0.007363601 |
| 2018-09-05 | 0.006196417 |
| 2018-09-12 | 0.007539283 |
| 2018-09-19 | 0.010513043 |
| 2018-09-26 | 0.00855945 |
| 2018-10-03 | 0.009498446 |
| 2018-10-10 | 0.004520188 |
| 2018-10-17 | 0.005005525 |
| 2018-10-24 | 0.00560664 |
| 2018-11-07 | 0.002491878 |
| 2018-11-14 | 0.004244467 |
| 2018-11-21 | 0.001721666 |
| 2018-11-28 | 0.002061277 |
| 2018-12-05 | 0.001385325 |
| 2018-12-12 | 0.001682576 |
| 2018-12-19 | 0.002317744 |
| 2018-12-26 | 0.001893054 |
| 2019-01-09 | 0.000166446 |
| 2019-01-16 | 0.000363749 |
| 2019-01-23 | 0.00047568 |
| 2019-02-06 | 0.000407143 |
| 2019-02-13 | 0.000456828 |
| 2019-02-20 | 0.000566105 |
| 2019-03-06 | 0.000159002 |
| 2019-03-13 | 0.000265085 |
| 2019-03-20 | 0.000272109 |
| 2019-03-27 | 0.000674181 |
| 2019-04-03 | 0.000276305 |
| 2019-04-10 | 0.000523422 |
| 2019-04-17 | 0.000494808 |
| 2019-04-24 | 0.000820437 |
| 2019-05-08 | 0.001704017 |
| 2019-05-15 | 0.001651207 |
| 2019-05-22 | 0.001285373 |
| 2019-05-29 | 0.001386701 |
| 2019-06-05 | 0.001170066 |
| 2019-06-12 | 0.001366405 |
| 2019-06-19 | 0.003994599 |
| 2019-06-26 | 0.004810892 |
| 2019-07-03 | 0.002759757 |
| 2019-07-10 | 0.003055513 |
| 2019-07-17 | 0.003158759 |
| 2019-07-24 | 0.003397428 |
| 2019-08-07 | 0.002698052 |
| 2019-08-14 | 0.002646026 |
| 2019-08-21 | 0.004758921 |
| 2019-08-28 | 0.002935148 |
| 2019-09-04 | 0.002478846 |
| 2019-09-11 | 0.002197273 |
| 2019-09-18 | 0.002254561 |
| 2019-09-25 | 0.00248655 |
| 2019-10-02 | 0.002880458 |
| 2019-10-09 | 0.001826882 |
| 2019-10-16 | 0.001519764 |
| 2019-10-23 | 0.001371683 |
| 2019-11-06 | 0.0005476 |
| 2019-11-13 | 0.000907808 |
| 2019-11-20 | 0.000647379 |
| 2019-12-04 | 0.000213395 |
| 2019-12-11 | 0.000439972 |
| 2019-12-18 | 0.001161431 |
| 2019-12-25 | 0.000321107 |
| 2020-01-08 | 4.15949E-05 |
| 2020-01-15 | 0.000211957 |
| 2020-01-22 | 3.18386E-06 |
| 2020-01-29 | 0.000814957 |
| 2020-02-05 | 2.40238E-05 |
| 2020-02-12 | 7.17242E-08 |
| 2020-02-19 | 0.000113602 |
| 2020-02-26 | 0.000313228 |
| 2020-03-04 | 2.61935E-05 |
| 2020-03-11 | 0.000245576 |
| 2020-03-18 | 0.604610279 |
| 2020-03-25 | 0.966213025 |
| 2020-04-08 | 0.714248346 |
| 2020-04-15 | 0.569792939 |
| 2020-04-22 | 0.513337011 |
| 2020-05-06 | 0.394175676 |
| 2020-05-13 | 0.349557685 |
| 2020-05-20 | 0.277633525 |
| 2020-05-27 | 0.256444884 |
| 2020-06-03 | 0.153804299 |
| 2020-06-10 | 0.117714979 |
| 2020-06-17 | 0.105607881 |
| 2020-06-24 | 0.08825399 |
| 2020-07-08 | 0.070344128 |
| 2020-07-15 | 0.073032037 |
| 2020-07-22 | 0.066178583 |
| 2020-07-29 | 0.052471679 |
| 2020-08-05 | 0.040903426 |
| 2020-08-12 | 0.039237058 |
| 2020-08-19 | 0.040762276 |
| 2020-08-26 | 0.039227555 |
| 2020-09-02 | 0.042574598 |
| 2020-09-09 | 0.039090372 |
| 2020-09-16 | 0.043437989 |
| 2020-09-23 | 0.047927405 |
| 2020-10-07 | 0.042010661 |
| 2020-10-14 | 0.038887796 |
| 2020-10-21 | 0.043929452 |
| 2020-10-28 | 0.03904854 |
| 2020-11-04 | 0.033134796 |
| 2020-11-11 | 0.032296345 |
| 2020-11-18 | 0.029917907 |
| 2020-11-25 | 0.033648092 |
| 2020-12-02 | 0.027577454 |
| 2020-12-09 | 0.026948107 |
| 2020-12-16 | 0.025417625 |
| 2020-12-23 | 0.02881865 |
| 2021-01-06 | 0.020240078 |
| 2021-01-13 | 0.020647621 |
| 2021-01-20 | 0.027632191 |
| 2021-01-27 | 0.026864575 |
| 2021-02-03 | 0.02260634 |
| 2021-02-10 | 0.021904821 |
| 2021-02-17 | 0.023218469 |
| 2021-02-24 | 0.027562903 |
| 2021-03-03 | 0.022996777 |
| 2021-03-10 | 0.017879903 |
| 2021-03-17 | 0.011066346 |
| 2021-03-24 | 0.013649942 |
| 2021-04-07 | 0.009199595 |
| 2021-04-14 | 0.009529682 |
| 2021-04-21 | 0.013860749 |
| 2021-04-28 | 0.009388364 |
| 2021-05-05 | 0.00697301 |
| 2021-05-12 | 0.007418477 |
| 2021-05-19 | 0.008363508 |
| 2021-05-26 | 0.008044432 |
| 2021-06-02 | 0.007400995 |
| 2021-06-09 | 0.006429401 |
| 2021-06-16 | 0.007354517 |
| 2021-06-23 | 0.005872159 |
| 2021-07-07 | 0.005261896 |
| 2021-07-14 | 0.004895458 |
| 2021-07-21 | 0.006912732 |
| 2021-07-28 | 0.005928186 |
| 2021-08-04 | 0.003457046 |
| 2021-08-11 | 0.003706605 |
| 2021-08-18 | 0.003823836 |
| 2021-08-25 | 0.003670139 |
| 2021-09-08 | 0.003236665 |
| 2021-09-15 | 0.003180288 |
| 2021-09-22 | 0.004860878 |
| 2021-10-06 | 0.004889537 |
| 2021-10-13 | 0.005137967 |
| 2021-10-20 | 0.007201613 |
| 2021-10-27 | 0.007206311 |
| 2021-11-03 | 0.003139931 |
| 2021-11-10 | 0.005300829 |
| 2021-11-17 | 0.004146181 |
| 2021-11-24 | 0.003688591 |
| 2021-12-08 | 0.004362501 |
| 2021-12-15 | 0.005351135 |
| 2021-12-22 | 0.008336288 |
| 2021-12-29 | 0.007307234 |
| 2022-01-05 | 0.004217679 |
| 2022-01-12 | 0.004681918 |
| 2022-01-19 | 0.005284673 |
| 2022-01-26 | 0.003891006 |
| 2022-02-02 | 0.003016022 |
| 2022-02-09 | 0.004434181 |
| 2022-02-16 | 0.012477207 |
| 2022-02-23 | 0.017739429 |
| 2022-03-02 | 0.020522054 |
| 2022-03-09 | 0.025878613 |
| 2022-03-16 | 0.024736969 |
| 2022-03-23 | 0.006678379 |
| 2022-04-06 | 0.004235469 |
| 2022-04-13 | 0.006457653 |
| 2022-04-20 | 0.024352292 |
| 2022-04-27 | 0.032665053 |
| 2022-05-04 | 0.029147204 |
| 2022-05-11 | 0.009357149 |
| 2022-05-18 | 0.009613434 |
| 2022-05-25 | 0.010260906 |
| 2022-06-08 | 0.013394539 |
| 2022-06-15 | 0.041517765 |
| 2022-06-22 | 0.035328349 |
| 2022-07-06 | 0.019959691 |
| 2022-07-13 | 0.029004334 |
| 2022-07-20 | 0.034544762 |
| 2022-07-27 | 0.041869936 |
| 2022-08-03 | 0.031045949 |
| 2022-08-10 | 0.033453203 |
| 2022-08-17 | 0.030561488 |
| 2022-08-24 | 0.040842481 |
| 2022-09-07 | 0.042192156 |
| 2022-09-14 | 0.070265285 |
| 2022-09-21 | 0.078817496 |
| 2022-09-28 | 0.074216976 |
| 2022-10-05 | 0.086404812 |
| 2022-10-12 | 0.088039619 |
| 2022-10-19 | 0.059089972 |
| 2022-10-26 | 0.064335699 |
| 2022-11-02 | 0.050875899 |
| 2022-11-09 | 0.043244271 |
| 2022-11-16 | 0.091242063 |
| 2022-11-23 | 0.10623033 |
| 2022-12-07 | 0.083402003 |
| 2022-12-14 | 0.068702939 |
| 2022-12-21 | 0.053421983 |
| 2022-12-28 | 0.054461642 |
| 2023-01-04 | 0.046212918 |
| 2023-01-11 | 0.045368647 |
| 2023-01-18 | 0.054278535 |
| 2023-01-25 | 0.060280869 |
| 2023-02-08 | 0.053182517 |
| 2023-02-15 | 0.056988175 |
| 2023-02-22 | 0.054375344 |
| 2023-03-08 | 0.054913191 |
| 2023-03-15 | 1.769321932 |
| 2023-03-22 | 1.262364763 |
| 2023-03-29 | 1.012638067 |
| 2023-04-05 | 0.807485092 |
| 2023-04-12 | 0.785096048 |
| 2023-04-19 | 0.81375733 |
| 2023-04-26 | 0.862574272 |
| 2023-05-03 | 0.062896573 |
| 2023-05-10 | 0.109702531 |
| 2023-05-17 | 0.107062961 |
| 2023-05-24 | 0.049991366 |
| 2023-06-07 | 0.03795927 |
| 2023-06-14 | 0.04341147 |
| 2023-06-21 | 0.038685096 |
| 2023-06-28 | 0.03876437 |
| 2023-07-05 | 0.040723185 |
| 2023-07-12 | 0.032814916 |
| 2023-07-19 | 0.032213564 |
| 2023-07-26 | 0.027731429 |
| 2023-08-02 | 0.02380401 |
| 2023-08-09 | 0.024045862 |
| 2023-08-16 | 0.024885234 |
| 2023-08-23 | 0.027702139 |
| 2023-09-06 | 0.026298266 |
| 2023-09-13 | 0.034265327 |
| 2023-09-20 | 0.039359847 |
| 2023-09-27 | 0.041044602 |
| 2023-10-04 | 0.035812445 |
| 2023-10-11 | 0.033270648 |
| 2023-10-18 | 0.037950783 |
| 2023-10-25 | 0.040618805 |
| 2023-11-08 | 0.028750123 |
| 2023-11-15 | 0.029012473 |
| 2023-11-22 | 0.031550193 |
| 2023-12-06 | 0.025555318 |
| 2023-12-13 | 0.028525564 |
| 2023-12-20 | 0.031410504 |
| 2023-12-27 | 0.032587686 |
| 2024-01-03 | 0.028273613 |
| 2024-01-10 | 0.027400096 |
| 2024-01-17 | 0.029918074 |
| 2024-01-24 | 0.036281721 |
| 2024-02-07 | 0.03058257 |
| 2024-02-14 | 0.031683467 |
| 2024-02-21 | 0.031730674 |
| 2024-03-06 | 0.026677545 |
| 2024-03-13 | 0.026166085 |
| 2024-03-20 | 0.036106887 |
| 2024-04-03 | 0.073303798 |
| 2024-04-10 | 0.067959916 |
| 2024-04-17 | 0.116169993 |
| 2024-04-24 | 0.097614404 |
| 2024-05-08 | 0.084555851 |
| 2024-05-15 | 0.087467563 |
| 2024-05-22 | 0.091639492 |
| 2024-05-29 | 0.090696928 |
| 2024-06-05 | 0.085735542 |
| 2024-06-12 | 0.089494997 |
| 2024-06-19 | 0.092777131 |
| 2024-06-26 | 0.097881364 |
| 2024-07-03 | 0.089587697 |
| 2024-07-10 | 0.095124769 |
| 2024-07-17 | 0.093006184 |
| 2024-07-24 | 0.094641944 |
| 2024-08-07 | 0.032045755 |
| 2024-08-14 | 0.034692368 |
| 2024-08-21 | 0.030222052 |
| 2024-08-28 | 0.024916617 |
| 2024-09-04 | 0.022708421 |
| 2024-09-11 | 0.02349235 |
| 2024-09-18 | 0.020889002 |
| 2024-09-25 | 0.020534821 |
| 2024-10-02 | 0.024274971 |
| 2024-10-09 | 0.025645311 |
| 2024-10-16 | 0.027594482 |
| 2024-10-23 | 0.026010156 |
| 2024-11-06 | 0.023643769 |
| 2024-11-13 | 0.041401727 |
| 2024-11-20 | 0.040403476 |
| 2024-12-04 | 0.035712839 |
| 2024-12-11 | 0.038498816 |
| 2024-12-18 | 0.030816224 |
| 2024-12-25 | 0.030633536 |
| 2025-01-08 | 0.03510777 |
| 2025-01-15 | 0.038999706 |
| 2025-01-22 | 0.045265758 |
| 2025-01-29 | 0.04694257 |
| 2025-02-05 | 0.045444696 |
| 2025-02-12 | 0.044567301 |
| 2025-02-19 | 0.047724585 |
| 2025-02-26 | 0.049405929 |
| 2025-03-05 | 0.045870511 |
| 2025-03-12 | 0.035924382 |
| 2025-03-19 | 0.031675693 |
| 2025-03-26 | 0.033173149 |
| 2025-04-02 | 0.032105582 |
| 2025-04-09 | 0.040657218 |
| 2025-04-16 | 0.040482541 |
| 2025-04-23 | 0.04644442 |
| 2025-05-07 | 0.036900928 |
| 2025-05-14 | 0.032963272 |
Note: Stress periods during COVID-19 and the March 2023 banking turmoil are truncated at the top of the figure, peaking at 0.97 percent and 1.77 percent, respectively. Month-ends +/- 1 business day have been filtered out. Data extend through May 14, 2025.
Source: Federal Reserve Board, Statistical Release H.4.1, "Factors Affecting Reserve Balances."
Last Update:
May 19, 2025