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There is the following sentence (source):

The rate banks borrow from the Federal Reserve at is called the federal funds rate.

I have never seen before such position of "at" preposition in a sentence. Could I say instead:

The rate at which banks borrow from the Federal Reserve is called the federal funds rate.

Will it be right? Could I also say:

The rate at which the Federal Reserve lends to the banks is called the federal funds rate.

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2 Answers 2

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Reading the citation shows an initial use of "at which" at the beginning of the paragraph and successive use drops "which" as understood, leaving the preposition to stand alone. This does make the readability awkward.

Your suggestion of adding "at which" would be a good revision. However, including the stand-alone preposition "at" in these two sentences is unnecessary since the "rate...is called...." in both instances.

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Your replacement for the original is much better. And your second option is perfectly good English too, but of course by changing from B borrowing from FR, to FR lending to B you have changed the semantics a little. That may not matter here, but in might in other circumstances.

Back to the original: it really is rather clumsy. The problem is that it places too many words between the two components of what is better seen as a single phrase, namely “borrow at”. It could be improved by pulling the “at” back to join the “borrow” to give:

The rate banks borrow at from the Federal Reserve is called the federal funds rate.

But I still prefer your version.

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