This particular interest rate represents the rate at which depository institutions, like typical banks, lend funds to other depository institutions overnight. (studentloans.net)
1 Discount rate is the interest rate charged to commercial banks and other depository institutions for loans received from the Federal Reserve Bank's discount window. (hartfordfunds.com)
The Federal Reserve discount rate, which 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.» (money.stackexchange.com)