US Effective federal funds interest rate - 25th percentile
US Effective federal funds interest rate - 25th percentile stood at 3.87% on Oct 15, 2026, according to Office of Financial Research (Short-term Funding Monitor). It is one of the indicators in the Overnight interest rate distribution table (Value · Daily), with a complete series running from Mar 1, 2016 to Oct 15, 2026. The complete series with an interactive chart, free to download.
This indicator in the Overnight interest rate distribution table
| Indicator | 15-10-2026 | 14-10-2026 | 13-10-2026 | 09-10-2026 | 08-10-2026 | 07-10-2026 | 06-10-2026 | 05-10-2026 | 02-10-2026 | 01-10-2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Effective federal funds interest rate (EFFR) | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | |
| Effective federal funds interest rate - 25th percentile | 3.87 | 3.87 | 3.88 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | |
| Effective federal funds interest rate - 75th percentile | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 |
Understanding US Effective federal funds interest rate - 25th percentile
The US Effective federal funds interest rate - 25th percentile reflects the lower quartile of transaction costs within the unsecured overnight interbank lending market. It demonstrates the borrowing expenses experienced by institutions securing funds below the median rate, capturing the lower tier of wholesale credit distribution without reaching the extreme lows of the market floor. This metric complements the headline median by detailing the compression or widening of the lower half of the rate distribution, distinguishing it from upper-tier benchmarks that track higher-cost borrowing.
This indicator updates daily on each business day based on prior session activity and is not subject to routine revisions. The appropriate method for reading this series involves monitoring its daily spread against the target policy rate and the median EFFR rather than utilizing month-on-month or year-on-year evaluations. Seasonal dynamics are generally muted, though temporary variations occur around statement dates and systemic liquidity shifts.