Overnight Bank Funding Rate Data
 

The overnight bank funding rate is a measure of wholesale, unsecured, overnight bank funding costs. It is calculated using federal funds transactions, certain Eurodollar transactions, and certain domestic deposit transactions, all as reported in the FR 2420 Report of Selected Money Market Rates.a The federal funds market consists of domestic unsecured borrowings in U.S. dollars by depository institutions from other depository institutions and certain other entities, primarily government-sponsored enterprises. The Eurodollar market consists of unsecured U.S. dollar deposits held at banks or bank branches outside of the United States. U.S.-based banks can also take Eurodollar deposits domestically through international banking facilities (IBFs). Also included in the calculation of the OBFR are U.S. dollar deposits with a fixed overnight term and a negotiated interest rate that are booked in U.S. offices of banks. These transactions are collected in the FR 2420 under Part D, “Selected Deposits.”

The overnight bank funding rate (OBFR) is calculated as a volume-weighted median of overnight federal funds transactions, Eurodollar transactions, and the domestic deposits reported as “Selected Deposits” in the FR 2420 Report.b The New York Fed publishes the OBFR for the prior business day on the New York Fed website at approximately 9:00 a.m.c

For more information on the production of the OBFR, please see Additional Information about the EFFR and OBFR

To access historical data, please see: Overnight Bank Funding Rate Historical Search

Use of the OBFR 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.

  
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OVERNIGHT BANK FUNDING RATE DATA
Statistics on the overnight bank funding rate
  
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DATE OBFR
(Percent) 		PERCENTILES
VOLUME (US$ BILLIONS)
1ST
(Percent) 		25TH
(Percent) 		75TH
(Percent) 		99TH
(Percent)
10/10 1.81 1.66 1.79 1.83 1.95 153
10/09 1.80 1.66 1.79 1.83 1.95 153
10/08 1.80 1.66 1.79 1.83 1.94 157
10/07 1.80 1.66 1.79 1.83 1.94 172
10/04 1.81 1.66 1.79 1.83 1.97 173
10/03 1.82 1.70 1.79 1.86 1.98 176
10/02 1.84 1.70 1.79 1.87 1.98 182
10/01 1.85 1.66 1.80 1.88 2.00 160
09/30 1.90 1.66 1.83 1.95 2.39 140
09/27 1.82 1.68 1.79 1.85 2.00 183
09/26 1.83 1.69 1.79 1.88 2.00 181
09/25 1.85 1.70 1.80 1.92 2.03 171
09/24 1.85 1.66 1.80 1.90 2.05 159
09/23 1.85 1.66 1.80 1.90 2.00 158
09/20 1.85 1.70 1.80 1.90 2.10 162
09/19 1.85 1.66 1.80 1.90 2.10 160
09/18 2.18 1.87 2.09 2.25 2.60 158
09/17 2.25 1.87 2.10 2.50 5.55 141
09/16 2.18 1.87 2.15 2.40 3.30 110
09/13 2.14 1.87 2.11 2.15 2.22 123
09/12 2.13 1.87 2.10 2.14 2.23 142
09/11 2.11 1.87 2.09 2.13 2.20 156
09/10 2.11 1.87 2.09 2.14 2.20 144
09/09 2.11 1.87 2.09 2.13 2.20 155
09/06 2.11 1.87 2.09 2.13 2.18 160
 
OVERNIGHT BANK FUNDING RATE CHART
 
The New York Fed publishes the OBFR for general information purposes and you assume the risk for your use. The New York Fed reserves the right to alter the methods of calculation, publication schedule, rate revision practices or availability of the OBFR and the right to cease publication. The rate is provided without warranty of any kind. The New York Fed is not liable in any way for your use of the rate. See the Terms of Use.


r Revised
1 Rate was calculated with reduced volume
2 Rate was calculated using brokered data
3 Because of insufficient current data, the published rate is a republication of the prior day's rate


a Beginning on May 1, 2019, deposits reported in the FR 2420 Report of Selected Money Market Rates in Part D, “Selected Deposits”, were added to the transaction base of the OBFR.
b The calculation of the OBFR began with the March 1, 2016 rate. For background on the OBFR, please see the following statements:
  Statement Regarding Planned Changes to the Calculation of the Federal Funds Effective Rate and the Publication of an Overnight Bank Funding Rate
  Statement Regarding the Calculation Methodology for the Effective Federal Funds Rate and Overnight Bank Funding Rate
  Statement Regarding the Implementation of Planned Changes to the Effective Federal Funds Rate and Publication of the Overnight Bank Funding Rate
c The EFFR and the OBFR will be published each business day that is not included in the Federal Reserve Bank of New York's Holiday Schedule. The EFFR and the OBFR, reflecting activity for the business day preceding the holiday, will be published on the subsequent business day. 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.