US OBFR Overnight Bank Funding Rate Trading Volume
US OBFR Overnight Bank Funding Rate Trading Volume stood at 232 USD billion on Oct 15, 2026, according to New York FED (Markets Data API). It is one of the indicators in the Money market turnover table (Value · Daily), with a complete series running from Jan 2, 2018 to Oct 15, 2026. The complete series with an interactive chart, free to download.
This indicator in the Money market turnover 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| OBFR - Overnight Bank Funding Rate | 232 | 229 | 209 | 229 | 241 | 220 | 225 | 243 | 243 | 256 | |
| EFFR - Effective Federal Funds Rate | 118 | 111 | 106 | 110 | 117 | 108 | 120 | 121 | 118 | 120 | |
| SOFR - Secured Overnight Financing Rate | 3,025 | 2,974 | 3,000 | 2,961 | 2,963 | 2,968 | 2,997 | 3,007 | 3,013 | 3,067 |
Understanding US OBFR Overnight Bank Funding Rate Trading Volume
This statistic represents the total transaction value of unsecured overnight cash borrowing across a broad scope in the US domestic market. The data set includes both federal funds system loans and overnight foreign currency deposits executed by foreign bank branches. The core difference compared to narrower metrics is the inclusion of overnight foreign currency flows, comprehensively reflecting unsecured cash streams.
Information is compiled daily from reports of depository institutions and published on the morning of the next business day. Published values may be subject to subsequent adjustments if accounting revisions are made by participating market entities. Analytical units should note the phenomenon of plunging loan volumes at the end of accounting periods as banks scale down assets to meet capital adequacy standards. The most efficient comparison is to benchmark the share of this capital flow against secured borrowing channels over the same timeframe.
Frequently asked questions
- What funding sources are included in the broad overnight borrowing turnover volume?
- The data accounts for both unsecured federal funds borrowings and overnight foreign currency deposits in the interbank market.
- What is the key difference between this metric and the federal funds borrowing indicator?
- This metric additionally captures overnight foreign currency deposit transactions conducted by foreign bank branches.
- When does this trading volume typically exhibit sharp volatility?
- Turnover volume frequently undergoes large shifts on monthly and quarterly accounting book-closing dates or during liquidity divergences among banks.