Term Fed funds(redirected from Term Federal Fund)
Term Fed funds
Fed funds sold for a period of time longer than overnight.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Term Fed Funds
Federal funds that a bank borrows for a period of more than one day. Generally speaking, term fed funds have a maximum maturity of 90 days. Banks borrow term fed funds when they need to borrow funds for an extended (but still short-term) period of time and wish to lock in a low interest rate.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved