Define: Federal Funds Effective Rate
What does "Federal Funds Effective Rate" mean? The meaning differs based on the contract. We found 10 definitions across 9 companies in SEC filings.
Definition 1 (BROWN & BROWN, INC., seen in 1 filing)
Federal Funds Effective Rate means for any day, the rate calculated by the NYFRB based on such day's federal funds transactions by depository institutions (as determined in such manner as shall be set forth on the NYFRB's Website from time to time) and published on the next succeeding Business Day by the NYFRB as the effective federal funds rate; provided that, if the Federal Funds Effective Rate as so determined would be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement.
Source: BROWN & BROWN, INC. 10-K
Definition 2 (Tesla, Inc., seen in 1 filing)
Federal Funds Effective Rate means for any day, the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers.
Source: Tesla, Inc. 10-K
Definition 3 (AMETEK INC/, seen in 1 filing)
Federal Funds Effective Rate means for any day, the rate calculated by the NYFRB based on such day's federal funds transactions by depositary institutions, as determined in such manner as shall be set forth on the NYFRB's Website from time to time, and published on the next succeeding Business Day by the NYFRB as the effective federal funds rate.
Source: AMETEK INC/ 10-Q
Definition 4 (EXELON CORP, seen in 1 filing)
Federal Funds Effective Rate means for any day, the rate calculated by the Federal Reserve Bank of New York based on such day's federal funds transactions by depositary institutions, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that if such rate is not so published for any day that is a Business Day, the Federal Funds Effective Rate for such day shall be the average of the quotations for such day on such transactions received by the Administrative Agent from three federal funds brokers of recognized standing selected by it.
Source: EXELON CORP 10-K
Definition 5 (CBRE GROUP, INC., seen in 1 filing)
Federal Funds Effective Rate means for any day, the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for the day for such transactions received by the Administrative Agent from three depository institutions of recognized standing selected by it.
Source: CBRE GROUP, INC. 10-K
Definition 6 (Eaton Corp plc, seen in 1 filing)
Federal Funds Effective Rate means for any day, the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by the Administrative Agent from three federal funds brokers of recognized standing selected by it.
Source: Eaton Corp plc 8-K
Definition 7 (DoorDash, Inc., seen in 1 filing)
Federal Funds Effective Rate means for any day, the rate calculated by the NYFRB based on such day s federal funds transactions by depository institutions (as determined in such manner as shall be set forth on the Federal Reserve Bank of New York s Website from time to time) and published on the next succeeding Business Day by the NYFRB as the federal funds effective rate; provided that if such rate shall be less than zero, such rate shall be deemed to be zero for all purposes of this Agreement.
Source: DoorDash, Inc. S-1
Definition 8 (BROADRIDGE FINANCIAL SOLUTIONS, INC., seen in 1 filing)
Federal Funds Effective Rate means for any day, the rate calculated by the NYFRB based on such day s federal funds transactions by depository institutions, as determined in such manner as shall be set forth on the NYFRB s Website from time to time, and published on the next succeeding Business Day by the NYFRB as the effective federal funds rate provided that such rate shall in no event be less than 0.00%.
Source: BROADRIDGE FINANCIAL SOLUTIONS, INC. 10-K
Definition 9 (CrowdStrike Holdings, Inc., seen in 1 filing)
Federal Funds Effective Rate means for any day, the greater of (a) 0.00% and (b) the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for the day of such transactions received by SVB from three federal funds brokers of recognized standing selected by it.
Source: CrowdStrike Holdings, Inc. 10-K
Definition 10 (DoorDash, Inc., seen in 1 filing)
Federal Funds Effective Rate means for any day, the rate calculated by the NYFRB based on such day s federal funds transactions by depository institutions (as determined in such manner as shall be set forth on the Federal Reserve Bank of New York NYFRB s Website from time to time) and published on the next succeeding Business Day by the NYFRB as the federal funds effective rate provided that if such rate shall be less than zero, such rate shall be deemed to be zero for all purposes of this Agreement.
Source: DoorDash, Inc. 10-K
Data extracted from 10 SEC EDGAR filings across 9 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.