Policy Tools
The Federal Reserve has a variety of policy tools that it uses in order to implement monetary policy.
- Open Market Operations
- Discount Window and Discount Rate
- Reserve Requirements
- Interest on Required Reserve Balances and Excess Balances
- Overnight Reverse Repurchase Agreement Facility
- Term Deposit Facility
- Commercial Paper Funding Facility
- Primary Dealer Credit Facility
- Money Market Mutual Fund Liquidity Facility
- Primary Market Corporate Credit Facility
- Secondary Market Corporate Credit Facility
- Term Asset-Backed Securities Loan Facility
- Paycheck Protection Program Liquidity Facility
- Municipal Liquidity Facility
- Main Street Lending Program
- Central Bank Liquidity Swaps
- Temporary Foreign and International Monetary Authorities (FIMA) Repo Facility
- Expired Policy Tools
Last Update:
April 15, 2020