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We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength.

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Working Papers

July 1976, No. 76-1

Bank Management, Competition, and Interest Rates: A Portfolio Model of Discount Window Activity

William D. Jackson

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The ability to borrow funds at the discount window is a potentially valuable incentive for a bank to belong to the Federal Reserve System.

Katrina Mullen (804) 697-8145