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Board of Governors of the Federal Reserve SystemInstructions for Preparation ofThe Report of Selected Money Markets RatesReporting Form FR 2420Effective January 15, 2016
INSTRUCTIONS FOR PREPARATION OFReport of Selected Money MarketsRatesFR 2420GENERAL INSTRUCTIONSThe FR 2420 report is filed on a daily basis and collectsdata on transactions in selected money market instruments that were executed by banking institutions on thereport date. The report is comprised of four parts. Part Acollects data on domestic federal funds purchased, whichare defined as unsecured borrowings from counterpartiesthat are exempt entities as defined in Regulation D. PartAA collects data on selected unsecured borrowings fromnon-exempt entities as defined in Regulation D. Part Bcollects data on Eurodollar liabilities. Part C collects dataon time deposits and certificates of deposit issued bydomestic offices. These data include for each transaction:the dollar amount, the trade date, the settlement date, thematurity date, the interest rate, the counterparty type andother associated information.PurposeThe FR 2420 is used to monitor market activity inselected money market instruments. The data may alsobe aggregated to create rate or volume statistics forpublication.Who Needs to ReportThe following banking organizations must file the FR2420 on a daily basis:a. U.S. Depository Institutions - U.S. depository institutions are required to report the FR 2420 if theymeet one of two criteria: (1) An asset size criteriafor banking organizations with total assets of 18billion or more; or (2) An activity criteria forbanking organizations with total assets of 5 billionor more but less than 18 billion.1. Asset Size Criterion - Every national bank, statemember bank, insured state non-member bank,and savings association with total assets of 18FR 2420General Instructions October 2015billion or more as of the most recent September30 filing of the FFIEC 31 or FFIEC 041 Report(Call Report) is required to report the FR 2420.i. Changes in Reporting Status If a U.S. depository institution does not currently report on the FR 2420 and meets theasset size reporting threshold based on themost recent September filing of the CallReport, the banking organization must beginto report on the FR 2420 effective January 1of the following year. If a U.S. depository institution that reports onthe FR 2420 falls below the asset size threshold based on the most recent Septemberfiling of the Call Report, the banking organization must continue to report on the FR 2420through the December 31 report date.2. Activity Criterion - Every national bank, statemember bank, insured state non-member bank,and savings association with total assets of 5billion or more but less than 18 billion as of themost recent filing of the Call Report and federalfunds activity (as described in Part A) totallingmore than 200 million on two or more daysover the preceding three months is required toreport the FR 2420.i. Changes in Reporting Status If a U.S. depository institution does not currently report the FR 2420 but meets the assetsize threshold of total assets of 5 billion ormore but less than 18 billion based on themost recent filing of the Call Report, and hasfederal funds activity totalling more than 200 million on two or more days over thepreceding three months, the banking organization must begin to report on the FR 2420GEN-1
General Instructionseffective no more than three months aftermeeting the activity threshold. New reportersshould contact the Federal Reserve Bank ofNew York to discuss plans to begin reporting. If a U.S. depository institution that reports onthe FR 2420 meets the asset size threshold oftotal assets of 5 billion or more but less than 18 billion but falls below the activity criterion, the banking organization must continueto report until the activity criterion is not metfor twelve consecutive months. Requests fora change in reporting status based on negligible activity should be made in writing,should provide a look back at the data for atleast two quarters, and be submitted to theFederal Reserve Bank of New York.b. Foreign Banking OrganizationsEvery U.S. branch and agency of a foreign bankwith total third party assets of 2.5 billion or moreas of the most recent September 30 filing of theFFIEC 002 Report (Schedule RAL Item 3 columnA less Schedule RAL Item 2.a.).1. Changes in Reporting Status If a U.S. branch or agency of a foreign bankdoes not currently report the FR 2420 butmeets the reporting threshold based on themost recent September filing of the FFIEC002 Report, the U.S. branch or agency of aforeign bank must begin to report on the FR2420 effective January 1 of the followingyear. If a U.S. branch or agency of a foreign bankthat reports on the FR 2420 falls below thethreshold based on the most recent September filing of the FFIEC 002 Report, the U.S.branch or agency of a foreign bank mustcontinue to report until the December 31report date.c. International Banking FacilitiesEach International Banking Facility, or IBF, (of abanking organization that reports on the FR 2420)must report a separate FR 2420 for Part B (Eurodollars) only.GEN-2d. Significant Banking OrganizationsAny banking organization not meeting the threshold for reporting may be required to report if theFederal Reserve deems the institution significant. Asignificant banking organization is an entity that isa participant in money markets whose data isimportant to the analysis and monitoring of marketactivity. A banking organization deemed significantwill be expected to begin to report on the FR 2420within three months of its designation.Rules of Consolidationa. U.S. Depository Institutions:For Part A, Part AA, and Part C, institutions withforeign offices must follow the Call Report instructions for consolidation in the domestic-office portion of the FFIEC 031 in order to determine whichactivity to report. That is, the institution must reporttransactions for all domestic branches and majorityowned domestic subsidiaries whose data areincluded in the institution’s FFIEC 031.For Part A, Part AA, and Part C, institutions withdomestic offices only must follow the Call Reportinstructions for consolidation in the FFIEC 041 inorder to determine which activity to report. That is,the institution must report transactions for alldomestic branches and majority-owned domesticsubsidiaries whose data are included in the institution’s FFIEC 041.For Part B, report all Eurodollar transactions foreach significant foreign office; that is any foreignoffice which has total assets of 2 billion or morebooked at that office as of the close of business forthe report date. A U.S. depository institution may opt to reportthe activity of all offshore branches or officeslocated in foreign countries instead of applyingthe significance test each business day if thisoption is more suited to the institution’s operations.b. Foreign Banking Organizations:For Part A, Part AA, and Part C, U.S. branchesand agencies of foreign banks must follow theFFIEC 002 instructions for consolidation in orderto determine which activity to report. That is, eachFR 2420General Instructions October 2015
General Instructionsdesignated branch or agency of a foreign bank mustfile a separate report unless the foreign bank submitted a consolidated FFIEC 002 for two or more of itsoffices. In such cases, a consolidated FR 2420 mustbe filed. Respondents should contact the FederalReserve Bank of New York to obtain permission forany deviation from this lbank/reportingcentral/resource center.html.For Part B, U.S. branches and agencies of foreignbanks must report all Eurodollar borrowings formanaged and controlled branches located in theCayman Islands or Nassau, Bahamas (Cayman andNassau branches). Managed and controlled branchesare those branches for which the U.S. branch oragency files an FFIEC 002S (as defined in theFFIEC 002S instructions). In the future, the FederalReserve Board may determine that a FBO branchoutside of these two locations but within the Caribbean generally should report on the FR 2420 if themajority of the responsibility for business decisions, including but not limited to decisions withregard to lending or asset management or fundingor liability management, or the responsibility forrecordkeeping in respect of assets or liabilities forthat FBO branch, resides at a FBO that is a FR 2420respondent. Part A, Federal Funds, is due by 7 a.m. one businessday after the report date.U.S. branches and agencies of foreign banks are toreport all Eurodollar borrowings for each significant Cayman and Nassau branch managed andcontrolled by a U.S. office. A significant branch is abranch which has total assets of 2 billion or morebooked at that office as of the close of business forthe report date. A U.S. branch or agency of a foreign bank mayopt to report the activity of all Cayman andNassau branches managed and controlled by aU.S. office instead of applying the significancetest each business day if this option is more suitedto the institution’s operations.Where to Submit ReportsAll respondents must submit their completed report usingthe Federal Reserve System’s Reporting Central system.The Federal Reserve Bank of New York will providetechnical assistance to any respondent requiring guidanceon using Reporting Central. Additional information onthe Reporting Central system can be found at the followFR 2420General Instructions October 2015When to Submit ReportsRespondents must file the FR 2420 for each business dayas follows: Part AA, Selected Borrowings from Non-exemptentities, is due by 7 a.m. one business day after thereport date. Part B, Eurodollars, is due by 7 a.m. one business dayafter the report date. Part C, Time Deposits and Certificates of Deposit(CDs), is due by 2 p.m. two business days after thereport date.If the submission date falls on a weekend or holiday, thedata must be received on the first business day after theweekend or holiday. No other extensions of time forsubmitting reports will be granted.Amended ReportsThe Federal Reserve will require the filing of amendedreports if reports as previously submitted contain significant errors. Please contact the FRBNY’s Statistics Function concerning amended reports. Respondents mustsubmit amended reports using The Federal Reserve Systems’ Reporting Central system.General Terms for Reporting DataAll terms in ‘‘italics’’ throughout these instructions aredefined in the Glossary.Affiliates and Intercompany (RelatedParties)All intercompany transactions are excluded from all partsof the FR 2420. In addition, transactions between thereporting institution and its affıliates are excluded fromall parts of the FR 2420.Arm’s Length TransactionsOnly arm’s length transactions should be reported on allparts of the FR 2420.GEN-3
General InstructionsCounterparty TypeInterest RatesFor each Part of the FR 2420 report, the counterpartytype for each transaction is reported. The counterpartytypes are defined in the Glossary section. The numericalvalue assigned to each counterparty type is used whererelevant across all the Parts of the report; therefore thenumerical value and counterparty type description areconsistent across all Parts of the report.All interest rates reported on the FR 2420 should alwaysbe reported as a percent expressed out to five decimalplaces with a leading 0 if the rate is less than one percent.Negative interest rates are to be preceded with a ‘‘-’’ sign. Example 1: An interest rate of 2.53 percent would bereported as 2.53000.Dollar Amount Denomination Example 2: An interest rate of 1/2 percent would bereported as 0.50000.All amounts on the FR 2420 are reported in millions ofdollars, with amounts rounded to the nearest million.Transactions less than 1 million are not reported. Example 3: A negative interest rate of -1.0 percentwould be reported as -1.00000.Forward Starting TransactionsNegative EntriesReport all transactions in all parts of the FR 2420regardless of when the transactions settle; includingforward starting transactions.Except for interest rate and spread fields, negative entriesare not appropriate on the FR 2420 and must not bereported.GEN-4FR 2420General Instructions October 2015
LINE ITEM INSTRUCTIONS FORFederal FundsPart AThis section contains line item instructions on federalfunds transactions on Part A.DefinitionRespondents should report all purchases of federal fundsby the institution’s U.S. offices executed on the reportdate. Federal funds purchases are unsecured borrowingsin U.S. dollars from a counterparty that is an exemptentity as defined in Regulation D (Section 204.2(a)(1)(vii)) and the glossary section of the Report ofTransaction Accounts, Other Deposits and Vault Cash(FR 2900) instructions.Include: All federal funds purchases that are executed atarm’s length. Federal funds purchased with maturities of overnight, specified term, open trades or continuingcontract. Federal funds purchased from exempt entities, whichinclude but are not limited to (see glossary section ofthe FR 2900 instructions for complete list):— U.S. office of another U.S. depository institution,— U.S. branch or agency of a foreign bank,— Federal Home Loan Bank, and— Other U.S. government-sponsored enterprise(GSE).Exclude from Part A: Deposits as defined in Regulation D (Section 204.2(a)(1) including:— Any deposit automatically placed into federalfunds as a result of sweep agreements; or othercontractual cash management agreements.— Time deposits (as defined in Part C).FR 2420Part A October 2015 Borrowings in the form of debt instruments. Repurchase agreements and security lending transactions. Overdrafts. Intraday transactions. Federal Home Loan Bank advances. Borrowings from firms other than exempt entities, asdefined in Regulation D and the glossary section ofthe Report of Transaction Accounts, Other Depositsand Vault Cash (FR 2900) instructions. These otherunsecured borrowing transactions are reported inPart AA (Selected Borrowings from Non-exemptEntities).Items to ReportDollar AmountReport the amount (in millions of dollars) of eachreportable federal funds transaction as of the date thetrade is executed (i.e., the date that terms are agreed on);even if the funds are made available to the reportinginstitution on a subsequent date. The dollar amountreported for each transaction is the amount that is madeavailable to the reporting institution.If no transactions were executed on the report date, report‘‘0’’ for the dollar amount. If no transactions wereexecuted because the banking organization was closed onthe report date, report ‘‘0’’ for the dollar amount.Trade DateReport the trade date of each transaction inYYYYMMDD format.A-1
Part ASettlement DateReport the settlement date of each transaction inYYYYMMDD format.how to report interest rates, see the General Terms forReporting Data section within the General Instructions.Counterparty TypeMaturity DateReport the maturity date of each transaction inYYYYMMDD format. In cases where the transactiondoes not have a specific maturity date (i.e., open trades)enter 99991231. Open trades that are rolled over are to bereported each day that the rate is changed.Interest RateReport the interest rate applicable to the transaction. Theinterest rate should always be reported as a percentexpressed out to five decimal places with a leading zero ifthe interest rate is less than one percent. Negative interestrates are to be preceded with a ‘‘-’’ sign. For examples ofA-2Enter one of the values listed below to describe thecounterparty to the transaction:1. U.S. depository institution3. U.S. branch or agency of a foreign bank5. Non-depository financial institution that is definedas an exempt entity8. U.S. government-sponsored enterprise (GSE) that isdefined as an exempt entity10. Other exempt entityThe definition of each counterparty type listed above isprovided in the Glossary section.Part AFR 2420October 2015
LINE ITEM INSTRUCTIONS FORSelected Borrowings From Non-ExemptEntitiesPart AAThis section contains specific line item instructions onselected unsecured borrowings from non-exempt entitiesreported in Part AA.DefinitionRespondents should report all transactions of unsecuredborrowings in U.S. dollars made to the institution’s U.S.offices (not included in PART A, Federal Funds) executedon the report date from a counterparty that is a nonexempt entity as defined in Regulation D (Section 204.2(a) (vii)) and the glossary section of the Report ofTransaction Accounts, Other Deposits and Vault Cash(FR 2900) instructions.Include all unsecured borrowings (not included in PARTA, Federal Funds) that: Are transacted at arm’s length; Have an interest rate; Have a maturity of overnight, specified term, opentrades or continuing contracts; and Are borrowings from non-exempt entities whichinclude but are not limited to (see the glossarysection of the FR 2900 instructions for completelist):— Time deposits (as defined in Part C). Borrowings in the form of debt instruments. Repurchase agreements and security lending transactions. Overdrafts. Intraday transactions. Unsecured borrowings from exempt entities that arereported in Federal Funds (Part A).Items to ReportDollar AmountReport the amount (in millions of dollars) of eachreportable transaction as of the date the trade is executed(i.e., the date that terms are agreed on); even if the fundsare made available to the reporting institution on asubsequent date. The dollar amount reported for eachtransaction is the amount that is made available to thereporting institution.If no transactions were executed on the report date, report“0” for the dollar amount. If no transactions wereexecuted because the banking organization was closed onthe report date, report “0” for the dollar amount.— Partnerships and corporations wherever located,Trade Date— Non-banking subsidiaries of a depository institution, andReport the trade date of each transaction inYYYYMMDD format.— International institutions.Settlement DateExclude from Part AA: Deposits (as defined in Regulation D (Section 204.2(a)(1)) including:— Any deposit automatically placed as a result ofsweep agreements; or other contractual cashmanagement agreements.FR 2420Part AA October 2015Report the settlement date for each transaction inYYYYMMDD format.Maturity DateReport the maturity date of each transaction inYYYYMMDD format. In cases where the transactionAA-1
Part AAdoes not have a specific maturity date (i.e., open trades)enter 99991231. Open trades that are rolled over are to bereported each day that the rate is changed.Counterparty TypeEnter one of the values listed below to describe thecounterparty to the transaction:2. Non-U.S. offıce of a U.S. depository institutionInterest Rate4. Non-U.S. offıce of a foreign bankReport the interest rate applicable to the transaction. Theinterest rate should always be reported as a percentexpressed out to five decimal places with a leading zero ifthe interest rate is less than one percent. Negative interestrates are to be preceded with a “-” sign. For examples ofhow to report interest rates, see the General Terms forReporting Data section within the General Instructions.6. Non-depository financial institution that is definedas an non-exempt entityAA-29. Non-financial corporate entity11. Other non-exempt entityThe definition of each counterparty type listed above isprovided in the Glossary section.Part AAFR 2420October 2015
LINE ITEM INSTRUCTIONS FOREurodollarsPart BThis section contains line item instructions on Eurodollartransactions.DefinitionRespondents should report all Eurodollar transactionswhich are unsecured borrowings in U.S. dollars booked atnon-U.S. offices, executed on the report date.Include in Part B, all Eurodollar transactions that: Are transacted at arm’s length. Have an interest rate; and Have a maturity of overnight, specified term, opentrades or continuing contracts.Exclude from Part B: Demand deposits (as defined in Regulation D (Section 204.2(b)(1)), unless the deposit meets the criteria listed above. Any deposit automatically placed into Eurodollarsunder sweep agreements; or other contractual cashmanagement agreements. Borrowings in the form of debt instruments. Repurchase agreements and security lending transactions. Overdrafts.For U.S. branches and agencies of foreign banks, reportthe Eurodollar borrowings for managed and controlledbranches located in the Cayman Islands or Nassau,Bahamas (Cayman and Nassau branches). Managed andcontrolled branches are those branches for which the U.S.branch or agency files an FFIEC 002S (as defined in theFFIEC 002S instructions). Report the activity of Caymanand Nassau branches that meet the definition of significant in the ‘‘Rules of Consolidation’’ section of theseinstructions. For Part B (Eurodollars) only, a U.S. branchor agency of a foreign bank should include the managedand controlled branch activity and report the transactionsof these branches on the FR 2420.For an IBF (of a banking organization reporting on theFR 2420), report all Eurodollar transactions executed onthe report date. The IBF is required to report all Eurodollar transactions of the IBF on a separate FR 2420report.Exclude transactions with: The IBF’s establishing entity or a related party of theestablishing entity. The IBF of an affiliate.Items to Report Intraday transactions.Dollar Amount Unsecured borrowings from retail counterparties.Report the amount (in millions of dollars) of eachreportable Eurodollar transaction as of the date the tradeis executed (i.e., the date the terms are agreed on); even ifthe funds are made available to the reporting institutionon a subsequent date.How to ReportFor U.S. depository institutions, report the Eurodollaractivity of offshore branches or offices (i.e., those locatedin foreign countries) that meet the definition of significant in the ‘‘Rules of Consolidation’’ section of theseinstructions.FR 2420Part B October 2015If no transactions were executed on that day, report ‘‘0.’’If no transactions were executed because the bankingorganization was closed on the report date, report ‘‘0.’’B-1
Part BTrade DateCounterparty TypeReport the trade date of each transaction inYYYYMMDD format.Enter one of the values listed below to describe thecounterparty to the transaction:Settlement DateReport the settlement date of each transaction inYYYYMMDD format.1. U.S. depository institution2. Non-U.S. offıce of a U.S. depository institution3. U.S. branch or agency of a foreign bank4. Non-U.S. offıce of a foreign bankMaturity Date7. Non-depository financial institutionReport the maturity date of each transaction inYYYYMMDD format.9. Non-financial corporate entityInterest RateReport the interest rate applicable to the transaction. Theinterest rate should always be reported as a percentexpressed out to five decimal places with a leading zerofor interest rates less than one percent. Negative interestrates are to be preceded with a ‘‘-’’ sign. For examples ofhow to report interest rates, see the General Terms forReporting Data section within the General Instructions.B-212. Other EntityThe definitions of the counterparty type values listedabove are provided in the Glossary.Office IdentifierReport the RSSD ID of the overseas office that hasbooked the transaction. The office reported should be theoffice or branch that has the borrowing on its booksregardless of the location of the execution of the trade.Part BFR 2420October 2015
LINE ITEM INSTRUCTIONS FORTime Deposits and Certificates ofDeposits (CDs)Part CThis section contains specific line item instructions ontime deposits and CD transactions; henceforth referred toas time deposits.General Reporting Instructions for TimeDeposits (Part C)DefinitionMatching Terms: Each transaction should be reportedseparately even when all terms of the time depositsissued match.Respondents should report all time deposits that arebooked in U.S. offices in U.S. dollars, denominated inamounts of 1 million or more; and may be evidenced bya negotiable or nonnegotiable instrument, or a deposit inbook entry form evidenced by a receipt or similaracknowledgement issued by the bank, that provides, onits face, that the amount of such deposit is payable to thebearer, to any specified person, or to the order of aspecified person as follows:a. On a certain date not less than seven days after thedate of deposit,b. At the expiration of a specified period not less thanseven days after the date of the deposit, orc. Upon written notice to the bank which is to be givennot less than seven days before the date of withdrawal.All deposits that meet the criteria above and are executedon the report date are reported.Include: All time deposit transactions that are executed atarm’s length.Exclude from Part C: Market-linked CDs that use derivative transactionsas hedges. Unsecured borrowings reported in Part A, Part AA,and Part B of the FR 2420. Time deposits and CDs that are issued as collateralfor another transaction (e.g., a CD issued as collateral for a loan).FR 2420Part C January 2016Brokered Deposits: Transactions such as brokered deposits, where each deposit is placed by a third party after thetime deposit is issued, should be reported as one transaction.Renewal of Existing Time Deposit: Report the renewalof an existing time deposit on the day it becomesoutstanding with its new terms.Floating Rate Time Deposits: For floating rate timedeposits, report only at inception regardless of changes inthe terms of the time deposit before its maturity.Items to ReportDollar AmountReport the amount (in millions of dollars) of eachreportable time deposit transaction as of the date the tradeis executed (i.e., the date the terms are agreed on). Thedollar amount reported for each transaction is the amountthat is made available to the reporting institution.If no transactions were executed on the report date, report‘‘0’’ for the dollar amount. If no transactions wereexecuted because the banking organization was closed onthe report date, report ‘‘0’’ for the dollar amount.Trade DateReport the trade date of each transaction inYYYYMMDD format.C-1
Part CSettlement DateFloating or Fixed RateReport the settlement date of each transaction inYYYYMMDD format.If the time deposit has a floating rate, enter a value of 1. Ifthe rate is fixed, enter a value of 2.1. Floating RateMaturity DateReport the maturity date of each transaction inYYYYMMDD format. In cases where the transactiondoes not have a specific maturity date, (i.e. open trades),enter 99991231. Open trades that are rolled over are to bereported each day that the interest rate is changed.Interest RateReport the interest rate applicable at the inception of thetransaction. The interest rate should always be reportedas a percent expressed out to five decimal places with aleading zero if the interest rate is less than one percent.Negative interest rates are to be preceded with a ‘‘-’’ sign.For examples of how to report interest rates, see theGeneral Terms for Reporting Data section within theGeneral Instructions.For floating rate time deposits with a reference rate,report the interest rate (including any spread) applicableat the inception of the transaction. If the effective interestrate at the inception of the transaction cannot be calculated, report zero.2. Fixed RateTime deposits with a reset to a predetermined interestrate are reported as fixed rate.Step-Up IndicatorIf the fixed rate time deposit resets to a predeterminedinterest rate, enter Y. If there is no interest rate step-up,enter N. If the time deposit has a floating rate, enter NA.Y - YesN - NoNA - Not Applicable (floating rate time deposit)Reset PeriodEnter the value below to describe the frequency for whenthe interest rate for the reported time deposit can reset.0. No Reset1. Weekly2. Monthly3. QuarterlySpreadIf the interest rate for a floating rate time deposit isdetermined by the value of the reference rate PLUS orMINUS a spread, report the amount of the spread inpercent terms, expressed to two decimal places with aleading zero if the spread is less than 100 basis points. Example 1: If the floating rate is referenced to1 month LIBOR plus 30 basis points, report thespread as 0.30. Example 2: If the floating rate is referenced to1 month LIBOR minus 30 basis points, report thespread as -0.30. Example 3: If the floating rate is referenced to1 month LIBOR plus 125 basis points, report thespread as 1.25.C-24. Semi-annually5. Annually6. Other7. DailyFor time deposits with a reset to a predetermined interestrate, enter the value to describe the frequency for whenthe rate is reset.For time deposits that reset to a predetermined interestrate multiple times during the term of the deposit, if theinterest rate is reset at different time intervals, enter avalue of 6 (Other). Example: If a time deposit with an interest rate atinception of 1.0%, resets in one month to 1.12%, andthen resets to 1.25% in three months, enter a value of6 (Other).Part CFR 2420January 2016
Part CReference Rate (If Floating)The embedded options listed above are defined below.If the time deposit has a floating rate, enter the valuebelow to describe the reference rate. If the floating rate isdetermined by the value of the reference rate PLUS orMINUS a spread, enter the value below to describe theunderlying reference rate.1. Callable0. NAA callable CD or time deposit contains an embeddedoption or provision in the deposit agreement or contractthat gives the issuer (depository institution) a call option.The call option gives the issuer (depository institution)the right to redeem or close the CD or time deposit for thefull amount prior to maturity or before the term ends atany time or under specified conditions.1. Federal Funds Effective Rate2. Puttable2. Prime RateA puttable CD or time deposit contains an embeddedoption or p
The FR 2420 is used to monitor market activity in selected money market instruments. The data may also be aggregated to create rate or volume statistics for publication. Who Needs to Report The following banking organizations must file the FR 2420 on a daily basis: a. U.S. Depository Institutions - U.S. depository insti-
