FOX Translator
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Many people know that the Federal Reserve sets interest rates in order to loan money to other banks so they can keep cash flowing throughout the U.S. financial system. Mostly, this works great for everyone involved. But, sometimes, banks and thrifts need a little extra cash, mostly so they can meet the reserve requirement (the minimum amount of deposits banks need to be considered in good financial shape).
To meet the reserve, the Fed has what's known as the discount window, which allows banks to borrow money for a short period of time at a higher interest rate (called the discount rate) than the official Federal Funds rate.
It's called a window because it used to be an actual teller window, where banks would go to borrow from the federal government. Now, it's used more as a lender of last resort. In fact, banks prefer to borrow from one another than directly from the discount window, since the interest owed can be cheaper and going to the discount window tends to imply that the bank is in a spot of trouble.
The Fed, too, doesn't like banks borrowing this way, which is why the discount rate is always higher than the target rate. It also requires banks to collateralize the loans, meaning they have to turn over liquid assets, such as loans or CDs, to the Fed in order to get the money. As with any loan, the banks get the underlying collateral back when they pay off the balance.
FAQs
1. Where is FOX Business Network located?
Headquartered in News Corporation's street level studios in midtown Manhattan, FOX Business Network has also established
bureaus in other key markets such as Chicago, Los Angeles, San Francisco (Silicon Valley), Washington, D.C. and London.
2. How can I contact FOX Business Network?
There are several ways to contact FBN.
By mail, write to:
FOX Business Network
1211 Avenue of the Americas
New York, NY 10036
By phone, call our main number: 1-877-369-6156
By email, write to feedback@foxbusiness.com or to direct your message to a particular show, please use the addresses below:
Money for Breakfast with Alexis Glick and Peter Barnes
- moneyforbreakfast@foxbusiness.com
Fox Business:
- with Cheryl Casone and Tom Sullivan
- with Dagen McDowell and Stuart Varney
- with David Asman and Liz Claman
FOX Business Happy Hour with Rebecca Gomez and Cody Willard
Cavuto with Neil Cavuto
America's Nightly Scoreboard with David Asman
The Dave Ramsey Show with Dave Ramsey
3. Where can I find bios of the FOX Business Network personalities?
You can read bios of a number of our hosts and contributors right here on the site. Click here for a complete list.
4. Can I apply for a job at FOX Business Network?
Yes! We're looking for experienced media professionals, journalists and support staff who understand what people want
from today's business news.
To be considered, fax your resume to 212-301-8588 or email it to resumes@foxnews.com
5. Does the FOX Business Network offer internships?
FOX Business Network is committed to training the next generation of journalists. Get a head start in your career...and
an unfair advantage in the job market with an FBN internship.
To be considered, forward your resume to:
FOX Business Network
Dept. of Human Resources
1211 Avenue of the Americas
New York, NY 10036
Fax: 212-301-8588
Or email: internships@foxnews.com
* Please note, you must receive school credit for your internship to be considered.
6. How can I find out if my cable provider offers FOX Business Network?
You can find FOX Business Network on Time Warner, Comcast, Charter, and Direct TV (channel 359).
If your cable provider doesn't carry us, send us an email and we'll make sure your cable provider knows that you want FOX Business Network!
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