Secured Overnight Financing Rate Data
 

The Secured Overnight Financing Rate (SOFR) is a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities. The SOFR includes all trades in the Broad General Collateral Rate plus bilateral Treasury repurchase agreement (repo) transactions cleared through the Delivery-versus-Payment (DVP) service offered by the Fixed Income Clearing Corporation (FICC), which is filtered to remove a portion of transactions considered “specials”.a

The SOFR is calculated as a volume-weighted median of transaction-level tri-party repo data collected from the Bank of New York Mellon as well as GCF Repo transaction data and data on bilateral Treasury repo transactions cleared through FICC's DVP service, which are obtained from DTCC Solutions LLC, an affiliate of the Depository Trust & Clearing Corporation. Each business day, the New York Fed publishes the SOFR on the New York Fed website at approximately 8:00 a.m. ET.b

For more information on the production of the SOFR, please see Additional Information about the Treasury Repo Reference Rates.

To access historical data, please see: Repo Rates Data Historical Search

Download daily historical indicative SOFR and accompanying volumes from August 2014 – March 2018 

Use of the Secured Overnight Financing Rate is subject to important disclaimers, limitations and indemnification obligations. See the Terms of Use. The New York Fed has no liability for publication of the rate on this webpage or in any other sources.

Data provided under a license granted to the Federal Reserve Bank of New York by DTCC Solutions LLC (“Solutions”), an affiliate of the Depository Trust & Clearing Corporation. DTCC Solutions, its affiliates, and third parties from which they obtained data have no liability for the content of this material.

  
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Secured Overnight Financing Rate Data
Statistics on the Secured Overnight Financing Rates
  
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DATE RATE
(Percent) 		PERCENTILES
VOLUME (US$ BILLIONS)
1ST
(Percent) 		25TH
(Percent) 		75TH
(Percent) 		99TH
(Percent)
09/21 0.08 0.04 0.06 0.11 0.18 925
09/18 0.09 0.06 0.07 0.12 0.18 896
09/17 0.10 0.06 0.07 0.13 0.19 892
09/16 0.10 0.06 0.07 0.13 0.19 899
09/15 0.10 0.07 0.07 0.13 0.19 938
09/14 0.09 0.06 0.07 0.12 0.18 881
09/11 0.09 0.06 0.07 0.12 0.18 900
09/10 0.09 0.06 0.07 0.13 0.19 924
09/09 0.09 0.06 0.07 0.12 0.18 937
09/08 0.09 0.06 0.07 0.13 0.19 957
09/07 Holiday, no data.
09/04 0.09 0.06 0.07 0.13 0.18 935
09/03 0.10 0.06 0.06 0.12 0.17 955
09/02 0.09 0.05 0.06 0.12 0.17 947
09/01 0.09 0.05 0.06 0.12 0.17 969
08/31 0.09 0.06 0.07 0.13 0.19 934
08/28 0.07 0.04 0.05 0.10 0.16 881
08/27 0.07 0.05 0.05 0.10 0.16 898
08/26 0.07 0.05 0.05 0.10 0.16 938
08/25 0.08 0.05 0.06 0.11 0.17 931
08/24 0.08 0.05 0.06 0.11 0.16 935
08/21 0.07 0.04 0.05 0.10 0.16 959
08/20 0.07 0.04 0.05 0.09 0.16 983
08/19 0.09 0.04 0.07 0.12 0.18 961
08/18 0.09 0.06 0.07 0.12 0.18 977
08/17 0.10 0.07 0.07 0.13 0.19 944
 
Secured Overnight Financing Rate Chart
 
r Revised
1 Rate was calculated with reduced volume
2 Rate was calculated using survey data
3 Because of insufficient current data, the published rate is a republication of the prior day's rate


a “Specials” are repos for specific-issue collateral, which take place at cash-lending rates below those for general collateral repos because cash providers are willing to accept a lesser return on their cash in order to obtain a particular security.
b The Treasury repo reference rates will be published each business day that is not recognized as a holiday by the SIFMA calendar for secondary market trading of U.S. government securities. The Treasury repo reference rates, reflecting activity for the business day preceding a holiday will be published on the subsequent business day. Please note that on days in which trading in U.S. government securities is subject to an early close, the reference rates administered by the Desk will still be published. In the event that market participants recognize a previously unscheduled holiday, the New York Fed will publically communicate its approach to publishing reference rates it administers, with the goal of aligning as closely as possible to the approach used for scheduled holidays.