At the same time that the FOMC sets the target range for the federal funds rate, the Fed determines the appropriate settings of its administered rates to ensure short-term interest rates, especially the federal funds rate, are at the desired levels. As described in the Federal Reserve Act, the FOMC sets the overnight reverse repurchase (ON RRP) offering rate and standing repurchase agreement facility (SRF) rate, whereas the Federal Reserve Board sets the interest on reserve balances (IORB) rate and discount window rate. The settings of the administered rates are found in the Fed’s implementation note that is released at the same time as the FOMC statement. FOMC statements and implementation notes can be found on the Federal Reserve System’s Board of Governors website.