A Minor Correction: Discount Window Primary Credit Rate for February 19, 2010
The Federal Reserve, a cornerstone of our nation’s financial system, recently issued a small but important correction regarding the Discount Window primary credit rate. This update pertains to a specific day, February 19, 2010. While this might seem like a detail from a while ago, understanding these adjustments helps us appreciate the meticulous nature of financial data management.
The Discount Window is a facility through which the Federal Reserve provides short-term credit to depository institutions. The primary credit rate is the rate at which credit is extended to these institutions in sound financial condition. It serves as a benchmark for various financial transactions and influences broader economic conditions.
On February 19, 2010, a correction was made to the recorded primary credit rate for that day. It’s important to note that such corrections are a normal part of maintaining accurate and up-to-date financial information. Financial data, especially that collected and disseminated by institutions as vital as the Federal Reserve, is subject to ongoing review to ensure its precision.
What does this correction signify?
In essence, this update means that the previously reported figure for the primary credit rate on that particular date has been revised. While the specific details of the original rate and the corrected rate are available through the Federal Reserve’s data download portal, the key takeaway is that a slight adjustment was necessary to ensure the accuracy of historical financial records.
Why is accuracy so important?
The Federal Reserve’s data serves as a critical resource for economists, policymakers, researchers, and financial institutions worldwide. Accurate historical data allows for:
- In-depth analysis: Researchers can study trends, understand the impact of past policies, and develop more effective economic models.
- Informed decision-making: Policymakers rely on precise data to make informed decisions about monetary policy and economic stability.
- Market transparency: Accurate data provides transparency in financial markets, helping businesses and investors make informed choices.
While a correction to a single day’s rate might seem small in the grand scheme of economic activity, it underscores the Federal Reserve’s commitment to maintaining the highest standards of data integrity. It’s a testament to the careful processes in place to ensure that the information we receive is as reliable as possible.
For those interested in the specific figures or a deeper dive into the historical data, the Federal Reserve’s website (www.federalreserve.gov) offers access to these records. The “Data Download” section, specifically referencing the H15 release, would contain the detailed information about this particular correction.
In conclusion, this update on the Discount Window primary credit rate for February 19, 2010, highlights the ongoing efforts to maintain the accuracy and reliability of financial data, a crucial element for a healthy and well-understood economy.
H15: Correction to the Discount window primary credit rate for February 19, 2010
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