Define: Federal Funds Rate
What does "Federal Funds Rate" mean? The meaning differs based on the contract. We found 10 definitions across 9 companies in SEC filings.
Definition 1 (AMERICAN INTERNATIONAL GROUP, INC., seen in 1 filing)
Federal Funds 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 in the next succeeding Business Day s Federal Reserve Statistical Release H.15(519) or any successor publication, or, if such rate is not so published for any day that 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: AMERICAN INTERNATIONAL GROUP, INC. 10-Q
Definition 2 (BIOGEN INC., seen in 1 filing)
Federal Funds Rate means for any day, the rate per annum equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day.
Source: BIOGEN INC. 10-K
Definition 3 (CISCO SYSTEMS, INC., seen in 1 filing)
Federal Funds Rate means for any day, the rate per annum (rounded upward, if necessary, to the nearest 1/100th of 1%) equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Domestic Business Day next succeeding such day, provided that (i) if such day is not a Domestic Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Domestic Business Day as so published on the next succeeding Domestic Business Day, and (ii) if no such rate is so published on such next succeeding Domestic Business Day, the Federal Funds Rate for such day shall be the average rate quoted to Citibank, N.A. on such day on such transactions as determined by the Administrative Agent.
Source: CISCO SYSTEMS, INC. 10-K
Definition 4 (DTE ENERGY CO, seen in 1 filing)
Federal Funds Rate means for any day, the rate per annum (rounded upward, if necessary, to the nearest 1/100 of 1%) equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (i) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (ii) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to the nearest 1/100 of 1%) charged to Citibank on such day on such transactions as determined by the Agent.
Source: DTE ENERGY CO 8-K
Definition 5 (AMERICAN TOWER CORP /MA/, seen in 1 filing)
Federal Funds Rate means for any day, the rate per annum (rounded upward, if necessary, to the nearest 1/100 of one percent) equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day.
Source: AMERICAN TOWER CORP /MA/ 10-K
Definition 6 (AMERICAN TOWER CORP /MA/, seen in 1 filing)
Federal Funds Rate means the rate for federal funds transactions.
Source: AMERICAN TOWER CORP /MA/ 10-K
Definition 7 (Eaton Corp plc, seen in 1 filing)
Federal Funds Rate means for any day, the rate per annum equal to 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 8 (COMCAST CORP, seen in 1 filing)
Federal Funds Rate means the rate per annum equal to the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day.
Source: COMCAST CORP 10-K
Definition 9 (DIGITAL REALTY TRUST, INC., seen in 1 filing)
Federal Funds Rate means for any period, a fluctuating interest rate per annum equal for each day during such period to 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 for such day (or, if such day is not a Business Day, for the next preceding 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 such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it; provided , however , that in no circumstance shall the Federal Funds Rate be less than the Floor.
Source: DIGITAL REALTY TRUST, INC. 10-Q
Definition 10 (CRH PUBLIC LTD CO, seen in 1 filing)
Federal Funds Rate means the rate for United States dollar overnight federal funds transactions as published by the Federal Reserve Bank of New York on its website.
Source: CRH PUBLIC LTD CO 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.