When are the proceeds of Discount Window loans made available to the borrower? When is the subsequent repayment posted?
As noted in Operating Circular No. 10 [PDF; 249K], loan proceeds normally are made available at the close of Fedwire (usually 6:30 pm ET ) on the day the advance is approved by the Reserve Bank. Reserve Banks may approve requests for earlier availability. Discount Window credit is extended for 24 hours, or multiples thereof. The repayment will be booked at the same time of day that the funds were made available to the borrower.
