Minutes of the Board's Discount Rate Meetings - February and March 2026
Summary
The Federal Reserve Board released minutes from its February 9 and March 18, 2026 discount rate meetings. The meetings reviewed and determined the discount rates provided to depository institutions through the discount window. The Board noted that its process for setting the discount rate is distinct from the Federal Open Market Committee's process for setting the target range for the federal funds rate.
What changed
The Federal Reserve Board published minutes from its February 9 and March 18, 2026 discount rate meetings, documenting its review and determination of discount rates for depository institutions. The document clarifies that the Board's discount rate-setting process operates independently from the FOMC's target range for the federal funds rate.
For depository institutions and financial market participants, this release provides transparency into Federal Reserve lending policy. Compliance officers at banks and credit institutions should remain aware that discount window rates represent a distinct monetary policy tool from federal funds rate targets, though both affect overall funding conditions and liquidity management strategies.
What to do next
- Monitor Federal Reserve discount rate announcements
- Review discount window rate determinations for implications on funding costs
Archived snapshot
Apr 14, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Press Release
April 14, 2026
Minutes of the Board’s discount rate meetings on February 9 and March 18, 2026
For release at 2:00 p.m. EDT
The Board's process for setting the discount rate is distinct from the process the Federal Open Market Committee follows in setting the target range for the federal funds rate.
For media inquiries, please email [email protected] or call 202-452-2955.
- Attachment (PDF) Last Update: April 14, 2026
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