US Overnight Interest Rate Distribution
US overnight interest rate distribution across trade percentiles from the Office of Financial Research.
| Indicator | 24-09-2026 | 23-09-2026 | 22-09-2026 | 21-09-2026 | 18-09-2026 | 17-09-2026 | 16-09-2026 | 15-09-2026 | 14-09-2026 | 11-09-2026 | 10-09-2026 | 09-09-2026 | 08-09-2026 | 04-09-2026 | 03-09-2026 | 02-09-2026 | 01-09-2026 | 31-08-2026 | 28-08-2026 | 27-08-2026 | 26-08-2026 | 25-08-2026 | 24-08-2026 | 21-08-2026 | 20-08-2026 | 19-08-2026 | 18-08-2026 | 17-08-2026 | 14-08-2026 | 13-08-2026 | 12-08-2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Effective federal funds interest rate (EFFR)4 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | |
| Effective federal funds interest rate - 1st percentile | 3.85 | 3.86 | 3.85 | 3.85 | 3.85 | 3.85 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.61 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | 3.6 | |
| Effective federal funds interest rate - 25th percentile | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.63 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | |
| Effective federal funds interest rate - 75th percentile | 3.89 | 3.89 | 3.89 | 3.89 | 3.89 | 3.88 | 3.64 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | |
| Effective federal funds interest rate - 99th percentile | 3.94 | 3.93 | 3.94 | 3.9 | 3.9 | 3.89 | 3.65 | 3.64 | 3.64 | 3.64 | 3.64 | 3.64 | 3.64 | 3.64 | 3.64 | 3.65 | 3.65 | 3.65 | 3.65 | 3.66 | 3.65 | 3.69 | 3.69 | 3.69 | 3.69 | 3.69 | 3.69 | 3.65 | 3.65 | 3.65 | 3.65 | |
| Overnight bank funding interest rate (OBFR)4 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | |
| Overnight bank funding interest rate - 1st percentile | 3.78 | 3.8 | 3.8 | 3.8 | 3.75 | 3.78 | 3.53 | 3.55 | 3.53 | 3.55 | 3.53 | 3.55 | 3.55 | 3.5 | 3.5 | 3.55 | 3.55 | 3.53 | 3.53 | 3.5 | 3.55 | 3.55 | 3.55 | 3.53 | 3.53 | 3.55 | 3.55 | 3.55 | 3.5 | 3.53 | 3.55 | |
| Overnight bank funding interest rate - 25th percentile | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | |
| Overnight bank funding interest rate - 75th percentile | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | 3.63 | |
| Overnight bank funding interest rate - 99th percentile | 3.94 | 3.93 | 3.93 | 3.93 | 3.93 | 3.92 | 3.7 | 3.7 | 3.7 | 3.68 | 3.68 | 3.68 | 3.68 | 3.68 | 3.68 | 3.69 | 3.68 | 3.69 | 3.69 | 3.69 | 3.69 | 3.7 | 3.7 | 3.69 | 3.68 | 3.69 | 3.69 | 3.68 | 3.68 | 3.68 | 3.68 | |
| Secured overnight financing interest rate (SOFR)4 | 3.88 | 3.87 | 3.87 | 3.85 | 3.85 | 3.85 | 3.62 | 3.64 | 3.62 | 3.62 | 3.62 | 3.64 | 3.64 | 3.65 | 3.66 | 3.65 | 3.66 | 3.68 | 3.65 | 3.64 | 3.64 | 3.66 | 3.65 | 3.65 | 3.63 | 3.62 | 3.65 | 3.66 | 3.62 | 3.62 | 3.62 | |
| Secured overnight financing interest rate - 1st percentile | 3.81 | 3.81 | 3.8 | 3.8 | 3.8 | 3.7 | 3.58 | 3.57 | 3.57 | 3.57 | 3.58 | 3.59 | 3.58 | 3.6 | 3.6 | 3.6 | 3.61 | 3.6 | 3.59 | 3.59 | 3.6 | 3.6 | 3.59 | 3.59 | 3.58 | 3.58 | 3.6 | 3.6 | 3.59 | 3.59 | 3.58 | |
| Secured overnight financing interest rate - 25th percentile | 3.86 | 3.85 | 3.85 | 3.83 | 3.83 | 3.83 | 3.6 | 3.62 | 3.6 | 3.6 | 3.6 | 3.62 | 3.63 | 3.64 | 3.64 | 3.63 | 3.63 | 3.67 | 3.63 | 3.62 | 3.62 | 3.64 | 3.63 | 3.63 | 3.6 | 3.6 | 3.63 | 3.64 | 3.6 | 3.6 | 3.6 | |
| Secured overnight financing interest rate - 75th percentile | 3.92 | 3.92 | 3.92 | 3.91 | 3.9 | 3.9 | 3.67 | 3.69 | 3.67 | 3.67 | 3.67 | 3.68 | 3.69 | 3.7 | 3.7 | 3.7 | 3.71 | 3.74 | 3.7 | 3.7 | 3.7 | 3.71 | 3.71 | 3.7 | 3.68 | 3.67 | 3.7 | 3.71 | 3.68 | 3.67 | 3.67 | |
| Secured overnight financing interest rate - 99th percentile | 3.96 | 3.95 | 3.95 | 3.93 | 3.93 | 3.93 | 3.7 | 3.72 | 3.7 | 3.69 | 3.7 | 3.72 | 3.73 | 3.73 | 3.74 | 3.73 | 3.74 | 3.77 | 3.73 | 3.72 | 3.72 | 3.74 | 3.73 | 3.73 | 3.71 | 3.7 | 3.72 | 3.74 | 3.7 | 3.7 | 3.71 | |
| Tri-party general collateral interest rate (TGCR)4 | 3.86 | 3.85 | 3.85 | 3.83 | 3.83 | 3.83 | 3.6 | 3.62 | 3.6 | 3.6 | 3.6 | 3.62 | 3.63 | 3.64 | 3.64 | 3.63 | 3.63 | 3.67 | 3.63 | 3.62 | 3.62 | 3.64 | 3.63 | 3.63 | 3.6 | 3.6 | 3.63 | 3.64 | 3.6 | 3.6 | 3.6 | |
| Tri-party general collateral interest rate - 1st percentile | 3.8 | 3.79 | 3.79 | 3.78 | 3.78 | 3.63 | 3.53 | 3.53 | 3.53 | 3.53 | 3.53 | 3.54 | 3.54 | 3.53 | 3.55 | 3.56 | 3.57 | 3.58 | 3.55 | 3.57 | 3.57 | 3.55 | 3.55 | 3.55 | 3.55 | 3.54 | 3.55 | 3.57 | 3.56 | 3.55 | 3.55 | |
| Tri-party general collateral interest rate - 25th percentile | 3.86 | 3.85 | 3.85 | 3.83 | 3.83 | 3.83 | 3.6 | 3.62 | 3.6 | 3.6 | 3.6 | 3.62 | 3.63 | 3.63 | 3.64 | 3.63 | 3.63 | 3.66 | 3.63 | 3.62 | 3.62 | 3.63 | 3.63 | 3.63 | 3.6 | 3.6 | 3.62 | 3.64 | 3.6 | 3.6 | 3.6 | |
| Tri-party general collateral interest rate - 75th percentile | 3.87 | 3.86 | 3.86 | 3.84 | 3.84 | 3.84 | 3.6 | 3.63 | 3.6 | 3.61 | 3.61 | 3.63 | 3.63 | 3.64 | 3.64 | 3.63 | 3.64 | 3.67 | 3.63 | 3.62 | 3.62 | 3.64 | 3.64 | 3.63 | 3.61 | 3.6 | 3.63 | 3.64 | 3.6 | 3.6 | 3.61 | |
| Tri-party general collateral interest rate - 99th percentile | 3.89 | 3.89 | 3.88 | 3.88 | 3.88 | 3.87 | 3.65 | 3.65 | 3.63 | 3.63 | 3.65 | 3.65 | 3.66 | 3.67 | 3.66 | 3.67 | 3.69 | 3.69 | 3.65 | 3.65 | 3.67 | 3.66 | 3.66 | 3.65 | 3.66 | 3.66 | 3.67 | 3.66 | 3.65 | 3.64 | 3.65 | |
| Broad general collateral interest rate (BGCR)4 | 3.86 | 3.85 | 3.85 | 3.83 | 3.83 | 3.83 | 3.6 | 3.62 | 3.6 | 3.6 | 3.6 | 3.62 | 3.63 | 3.64 | 3.64 | 3.63 | 3.63 | 3.67 | 3.63 | 3.62 | 3.62 | 3.64 | 3.63 | 3.63 | 3.6 | 3.6 | 3.63 | 3.64 | 3.6 | 3.6 | 3.6 | |
| Broad general collateral interest rate - 1st percentile | 3.8 | 3.79 | 3.79 | 3.78 | 3.78 | 3.63 | 3.53 | 3.53 | 3.53 | 3.53 | 3.54 | 3.54 | 3.54 | 3.53 | 3.55 | 3.56 | 3.57 | 3.58 | 3.55 | 3.57 | 3.57 | 3.55 | 3.55 | 3.55 | 3.55 | 3.55 | 3.55 | 3.57 | 3.56 | 3.55 | 3.55 | |
| Broad general collateral interest rate - 25th percentile | 3.86 | 3.85 | 3.85 | 3.83 | 3.83 | 3.83 | 3.6 | 3.62 | 3.6 | 3.6 | 3.6 | 3.62 | 3.63 | 3.63 | 3.64 | 3.63 | 3.63 | 3.66 | 3.63 | 3.62 | 3.62 | 3.63 | 3.63 | 3.63 | 3.6 | 3.6 | 3.62 | 3.64 | 3.6 | 3.6 | 3.6 | |
| Broad general collateral interest rate - 75th percentile | 3.87 | 3.86 | 3.86 | 3.84 | 3.84 | 3.84 | 3.61 | 3.63 | 3.61 | 3.61 | 3.61 | 3.63 | 3.64 | 3.64 | 3.64 | 3.63 | 3.64 | 3.67 | 3.63 | 3.63 | 3.62 | 3.64 | 3.64 | 3.63 | 3.61 | 3.6 | 3.63 | 3.64 | 3.61 | 3.6 | 3.61 | |
| Broad general collateral interest rate - 99th percentile | 3.91 | 3.9 | 3.91 | 3.91 | 3.9 | 3.89 | 3.66 | 3.67 | 3.66 | 3.66 | 3.65 | 3.67 | 3.68 | 3.68 | 3.69 | 3.68 | 3.7 | 3.72 | 3.69 | 3.69 | 3.67 | 3.69 | 3.69 | 3.69 | 3.69 | 3.66 | 3.68 | 3.69 | 3.68 | 3.66 | 3.66 |
Latest reading
Secured overnight financing interest rate (SOFR) stood at 3.88 %/year in Sep 24, 2026. That is unchanged from Sep 23, 2026 and −0.3 pp from a year earlier. The series on this page is daily and runs from Apr 2, 2018 to Sep 24, 2026. Source: Office of Financial Research (Short-term Funding Monitor).
- Latest
- 3.88 %/year
- Sep 24, 2026
- vs previous period
- 0.0 pp
- Sep 23, 2026
- vs a year earlier
- −0.3 pp
Look up any date
Pick a date between Mar 1, 2016 and Sep 24, 2026 to see every series in this table on that day. If there is no reading that day (weekend, holiday, or a weekly release), the last reading before it is shown.
About this data
US overnight interest rate distribution across trade percentiles from the Office of Financial Research. This daily table tracks EFFR, OBFR, SOFR, TGCR, and BGCR borrowing rates alongside their 1st, 25th, 75th, and 99th trade volume percentiles in percent per year. Series begin in 2016 and capture the dispersion of overnight funding costs in the United States money market.
Frequently asked questions
- What does the US Overnight Interest Rate Distribution table measure?
- It measures benchmark overnight borrowing rates in the United States—including EFFR, OBFR, SOFR, TGCR, and BGCR—alongside the 1st, 25th, 75th, and 99th percentiles of intraday trading volume in percent per year.
- How frequently is this rate distribution data published and what is the coverage?
- It is published daily by the Office of Financial Research through the Short-term Funding Monitor, with data series beginning in 2016.
- Which specific benchmark rates are included?
- The table covers the Effective Federal Funds Rate, Overnight Bank Funding Rate, Secured Overnight Financing Rate, Tri-Party General Collateral Rate, and Broad General Collateral Rate.
- How can the percentiles be used to read market conditions?
- Under normal liquidity conditions, the 1st and 99th percentiles remain tightly bound around the median, whereas systemic stress causes the upper tail to widen before central tendency metrics shift.
