US 3-month Treasury bill interest rate (H.15)
US 3-month Treasury bill interest rate (H.15) stood at 3.94% in Sep 2026, according to FRED (Federal Reserve Bank of St. Louis). It is one of the indicators in the Interest rates and yields (H.15) table (Value · Monthly), with a complete series running from Jan 1934 to Sep 2026. The complete series with an interactive chart, free to download.
This indicator in the Interest rates and yields (H.15) table
| Indicator | 09-2026 | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 3-month Treasury bill (secondary, discount basis) | 3.94 | 3.72 | 3.73 | 3.66 | 3.6 | 3.61 | 3.61 | 3.6 | 3.57 | 3.59 | |
| Bank prime loan interest rate | 6.87 | 6.75 | 6.75 | 6.75 | 6.75 | 6.75 | 6.75 | 6.75 | 6.75 | 6.83 |
Understanding US 3-month Treasury bill interest rate (H.15)
This metric measures the return received by investors holding short-term debt instruments issued by the public debt issuer in the primary and secondary markets. The scope focuses entirely on ultra-short maturities, excluding medium and long-term maturities which are subject to greater volatility from distant inflation expectations. The major difference from interbank lending interest rates is that this instrument carries virtually zero credit risk, closely reflecting the instantaneous liquidity status of the system.
Updated information is released regularly on a monthly basis and may be revised in subsequent reports depending on actual developments in the auction market. Followers should avoid making mechanical comparisons between months with major holidays, as short-term liquidity is often temporarily distorted. Contrasting with the previous month is more useful than looking at the same period last year when assessing short-term cash flow movements.
Frequently asked questions surrounding this asset class include:
Frequently asked questions
- What is the maturity of this instrument?
- It is a short-term debt security with maturity measured in quarters.
- Why is this yield highly sensitive to policy decisions?
- As the safest short-term safe haven, it directly reflects idle cash levels in the market.
- Should inflation be adjusted when reading this index?
- No, this is a nominal value unadjusted for consumer price fluctuations.