Cross Dressing

A wealthy couple had plans to go to an evening ball. So they advised their butler that they were giving him the evening off to do as he pleasd since they would be out until quite late.

The couple went to a ball and dinner. After an hour an a half, the wife told her husband that she was horribly bored and that she preferred to go home and finish some work for the next day. The husband responded that he had to stay for a few more hours to meet some very important people who were his new business partners.

So the wife went home alone and found the the butler spread out on the couch watching TV. She slowly moved towards hime and sat down very seductively. She then told him to come closer. Then even closer.

She moved forward and whispered in his ear "Take off my dress...".

"Now take off my bra."

"Next remove my shoes and stockings."

"Now remove my garter belt and panties."

She then looked deep into his eyes and in a sharp voice shouted "The next time I catch you wearing my clothes, you're fired".

The Discount Rate

The discount rate is the interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank's lending facility - the discount window.

The Federal Reserve Banks offer three discount window programs to depository institutions: primary credit, secondary credit, and seasonal credit, each with its own interest rate. All discount window loans are fully secured.

Under the primary credit program, loans are extended for a very short term (usually overnight) to depository institutions in generally sound financial condition.

Depository institutions that are not eligible for primary credit may apply for secondary credit to meet short-term liquidity needs or to resolve severe financial difficulties.

Seasonal credit is extended to relatively small depository institutions that have recurring intra-year fluctuations in funding needs, such as banks in agricultural or seasonal resort communities.

Now, the discount rate charged for primary credit (the primary credit rate) is set above the usual level of short-term market interest rates. (Because primary credit is the Federal Reserve's main discount window program, the Federal Reserve at times uses the term "discount rate" to mean the primary credit rate.)

The discount rate on secondary credit is above the rate on primary credit. The discount rate for seasonal credit is an average of selected market rates. Discount rates are established by each Reserve Bank's board of directors, subject to the review and determination of the Board of Governors of the Federal Reserve System. The discount rates for the three lending programs are the same across all Reserve Banks except on days around a change in the rate.

So, no more confusion now. We are NOT talking about the Fed Fund Rates, which I will touch on later. So stay tuned, stay safe, & most importantly, stay solvent!

Motivation is Within

Motivation is a fire from within. If someone else tries to light that fire under you, chances are it will burn very briefly.

Stephen R. Covey