Definitions for "Federal funds"
Funds deposited by commercial banks at Federal Reserve Banks. By requiring banks...
(1) Excess reserve balances of a member bank on deposit at a Central Bank in the Federal Reserve System. This money may be made available to eligible borrowers on a short-term basis. (2) Funds used for settlement of money market instruments and U.S. government securities transactions. (3) A term used to mean "same day availability" of money. (See Clearing House Funds).
Deposit balances at the Federal Reserve, most of which represent legal reserves.
According to Big Daddy, it is money that is sent to LA from unknown individuals that reside in Washington, D.C. and shouldn't be considered as extracted from the taxpayers of LA. See also comment from former U.S. Senator Russell Long: "Don't tax you, don't tax me, tax the man behind the tree." Syn: Money from the man behind the tree.
Keywords:  fallout, frozen, risk, account
frozen account Fallout risk
a very competitive and difficult process