Accounting entry of institutions who borrows federal funds is as?

Question

Accounting entry of institutions who borrows federal funds is as?

income in income statement
expense on income statement
liability on balance sheet
assets on balance sheet

LohaHridoy

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2025-01-04 04:42

1 Answers

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AhmedNazir · Accepted Answer · 2022-09-01T13:21:41+06:00

Answer: Option 3

Accounting entry of institutions who borrows federal funds is as liability on balance sheet. Federal funds, often referred to as fed funds, are excess reserves that commercial banks and other financial institutions deposit at regional Federal Reserve banks; these funds can be lent, then, to other market participants with insufficient cash on hand to meet their lending and reserve needs.