As is often the case with 21st-century updates biggest changes to the VW camper vans comes under the hood and in the dash. Under the hood, the California sports a new, Euro-6 level emissions compliant diesel engine that develops 148 hp. Thatâs 10 more hp than the outgoing T5 model, but the T6 gets 44.1 MPG, as opposed to the T5âs 39.2 mpg rating.
Definition: The Fed funds rate is the interest rate banks charge each other to lend Federal Reserve funds overnight. These funds maintain the Federal reserve requirement. That's what the nation's central bank require they keep on hand each night.
The prime rate is influenced (but not dictated) by the Federal Funds rate, which is set by the Federal Reserve. The Federal Funds rate is the rate at which banks can borrow from each other or the Federal Reserve in order to meet their reserve requirements. The higher this rate is, the higher a bank's prime rate usually is.