US Overnight bank funding interest rate - 1st percentile
US Overnight bank funding interest rate - 1st percentile stood at 3.8% 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Overnight bank funding interest rate (OBFR) | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | 3.88 | |
| Overnight bank funding interest rate - 1st percentile | 3.8 | 3.8 | 3.8 | 3.8 | 3.8 | 3.8 | 3.8 | 3.8 | 3.75 | 3.8 | |
| Overnight bank funding interest rate - 25th percentile | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 | 3.87 |
Understanding US Overnight bank funding interest rate - 1st percentile
The US Overnight bank funding interest rate - 1st percentile identifies the lower boundary of transaction costs across a broad set of unsecured bank funding sources, including eurodollars and selected domestic deposits. It highlights the lowest-cost funding captured within the wider wholesale bank funding spectrum, separating extreme outlier transactions from the broader central tendency. This series differs from unsecured federal funds percentile metrics by incorporating non-federal funds liabilities into the lower-bound calculation.
Released daily on business days with no scheduled revisions, the indicator should be interpreted by examining its spread from the headline rate rather than applying month-on-month or year-on-year analysis. While regular calendar seasonality is absent, the series can exhibit sudden shifts during periods of structural liquidity abundance or localized funding dislocations.