FEDERAL FUNDS Definition

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FEDERAL FUNDS are reserve balances that depository institu­tions lend each other, usually on an overnight basis. In addition, federal funds include certain other kinds of borrowings by depository institutions from each other and from federal agencies.

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DPP see DIRECT PARTICIPATION PROGRAM.

DEDICATED PORTFOLIO, in securities, is a portfolio where the cash flow from assets is matched in timing and amount to known liabilities.

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