federal fundn.
/ˈfɛd(ə)r(ə)l fʌnd/, U.S. /ˈfɛd(ə)rəl ˌfənd/ U.S.
1.
a. In plural. Money held or disbursed by the U.S. federal government.
ΚΠ
1786 E. Telfair Let. 4 Apr. in Georgia Hist. Q. (1917) 1 144 The Acts passed by the General Assembly of this State..will give great stability to the federal funds.
1802 Raleigh Reg. & N.-Carolina Gaz. 12 Jan. The committee of ways and means have before them the whole receipts and expenditures of the United States, and are therefore better able to judge than a select committee, of the propriety of cutting off from the federal funds, this branch of the revenue.
1863 L. Starr tr. E. Pelletan Addr. King Cotton ix. 13 They bought Louisiana from France and Florida from Spain with federal money; and again out of federal funds they armed forts and built arsenals for the universal defence of all their frontiers.
1935 Miami (Okla.) Daily News-Record 17 Jan. 6/1 The committee recommended a state appropriation of $7,500 a year to match federal funds for employment of a National Geological survey expert in the state.
1977 D. L. Horowitz Courts & Social Policy iii. 77 From the beginning, Philadelphia's leadership saw Model Cities as an opportunity to augment the city's budget with a large infusion of federal funds.
2010 Appeal-Democrat (Marysville, Calif.) (Nexis) 29 Apr. (State & Regional News section) (headline) Federal funds may help Ella Elementary turnaround.
b. A fund created or used by the U.S. federal government, esp. for a specified purpose.
ΘΚΠ
society > trade and finance > money > funds or pecuniary resources > [noun] > of a sovereign or state
exchequer1565
fiscal1590
fisc1599
finances1656
the public purse1659
public finance1676
Consolidated Fund1753
federal fund1836
money supply1871
treasury-chest1877
Federal Reserve1913
Fed1942
monetary aggregate1946
1836 Reg. Deb. Congr. 12 3388/2 We should have our lobbies filled, session after session, with committees of your Legislatures..petitioning for an increase of the federal fund for distribution.
1881 Frank Leslie’s Illustr. Newspaper 8 Jan. 2/1 Might not such a large sum..lead to a decline of local public interest in both the support and the supervision of their public school systems, by creating an impression that the Federal fund was large enough for all necessary purposes?
1923 Crisis Oct. 255/1 When no public school buildings can be built with the federal fund for Negro children, where are the public school teachers to hold public school positions while teaching them?
1992 Harrowsmith Feb. 43/2 The Farm Credit Corporation has been named in a class-action suit launched by 19 farmers who allege that the FCC kept secret from them a federal fund they could have used to restructure their loans.
2010 Washington Post (Nexis) 1 Sept. (Met 2 ed.) a3 The new federal fund will reimburse up to 80 percent of a covered individual's medical costs over $15,000 and up to $90,000.
2. In plural. Finance. Reserve deposits which are held in the Federal Reserve system by member banks (as legally required under the Federal Reserve Act of 1913), surpluses of which may be traded between banks.
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1924 N.Y. Times 19 Sept. 30/2 The daily spectacle of too much money, and not enough demand..was again repeated..with ‘Street’ figures down as low as 1 per cent. for Federal funds.
1951 Southern Econ. Jrnl. 17 415 Transactions in federal funds represent interbank borrowing of deposit balances at Federal Reserve banks.
1980 Amer. Banker (Nexis) 26 Dec. There was no reaction when the Federal Reserve drained reserves by offering two-day matched-sale-purchase agreements with Federal funds trading at 18¾%.
2012 New Orleans City Business (Nexis) 18 Oct. There is no loan demand, and interest rates on Federal funds are down.
Compounds
attributive in plural (in sense 2). Of or relating to the active trade in surpluses of federal funds, as federal funds market, federal funds rate, etc.
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1931 Federal Reserve Questionnaires in Operation of National & Federal Reserve Banking Syst.: Hearings before U.S. Senate Banking & Currency Comm. (71st Congr., 3rd Sess.) VI. 704 Federal funds transactions are resorted to..by reason of differentials prevailing in the Federal funds rate as compared with the rediscount rate.
1951 Southern Econ. Jrnl. 17 415 Transactions in federal funds represent interbank borrowing of deposit balances at Federal Reserve banks... The rate for these one-day loans is called the federal funds rate.
1987 W. Greider Secrets of Temple i. ii. 62 The bank-to-bank borrowing of reserve funds, known as the Federal Funds market, sometimes exceeded $125 billion a day, traded in the money market by telephone and Telex.
2015 Pittsburgh Tribune Rev. (Nexis) 17 Jan. The Federal Reserve has held its benchmark federal funds rate near zero since 2008 to stimulate demand for lending.
This is a new entry (OED Third Edition, June 2015; most recently modified version published online March 2022).
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n.1786