US Effective federal funds interest rate - 75th percentile
US Effective federal funds interest rate - 75th percentile stood at 3.88% 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 - 75th percentile | 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 - 99th percentile | 3.89 | 3.89 | 3.89 | 3.89 | 3.89 | 3.89 | 3.9 | 3.9 | 3.89 | 3.89 |
Understanding US Effective federal funds interest rate - 75th percentile
The US Effective federal funds interest rate - 75th percentile captures the upper quartile of borrowing costs within the unsecured overnight federal funds market. It measures the rates paid by depository institutions facing higher marginal funding expenses, reflecting pockets of tighter liquidity or heightened risk perception among lenders in the upper tier of the distribution. This series differs from the lower percentiles and the central median by highlighting the upper boundary of standard interbank borrowing costs, providing insight into dispersion before reaching market extremes.
Released daily on business days without subsequent routine revisions, the series is best analyzed by observing changes in its distance from the central policy target rather than through conventional month-on-month or year-on-year comparisons. Seasonality is largely absent from daily prints, though periodic widening of the upper quartile often coincides with quarter-end balance sheet management and tax settlement deadlines.