What is the Definition of Federal Funds?
Reserve balances that depository institutions lend each other, usually on an overnight basis. In addition, Federal funds include certain other kinds of borrowing by depository institutions from each other and from federal agencies.
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Annuity?
What is the Definition of Federal Funds?
You can find random definition and meaning of insurance terms below:
Meaning of Replacement Cost in Insurance Terms
Insurance that pays the dollar amount needed to replace damaged personal property or dwelling property without deducting for depreciation but limited by the maximum dollar amount shown on the declarations page of the policy.
Meaning of Residual Disability in Insurance Terms
In disability income insurance, a condition in which the insured is not totally disabled, but is still unable to function as before the sickness or injury, and therefore suffers a reduction in income of at least the percentage—typically 20 percent to 25 percent— specified in the disability income plan. Also known as partial disability.
Meaning of Retention in Insurance Terms
The amount of risk retained by an insurance company that is not reinsured.
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