discount rate

from The American Heritage® Dictionary of the English Language, 5th Edition.

• noun The interest rate charged by a central bank on loans to its member banks. A change in the discount rate is usually followed by similar changes in the interest rates charged by banks and money markets.
• noun The interest rate used in determining the present value of a future payment or series of payments.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

• noun finance An interest rate that a central bank charges depository institutions that borrow reserves from it.
• noun finance The interest rate used to discount future cashflows of a financial instrument; the annual interest rate used to decrease the amounts of future cashflows to yield their present value.

from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

• noun interest on an annual basis deducted in advance on a loan
• noun the rate of interest set by the Federal Reserve that member banks are charged when they borrow money through the Federal Reserve System