The rate on required reserves will be set equal to the average target federal funds rate over the reserve maintenance period. (stlouisfed.org)
But it does target the Federal Funds Rate, which trickles up, affecting the Prime Rate, and eventually other short - term interest rates, like your HELOC. (themortgagereports.com)
The Federal Reserve raised its target federal funds rate by 0.25 percent on Dec. 16, the first such hike since 2006. (cnbc.com)