US Overnight bank funding interest rate - 99th percentile
US Overnight bank funding interest rate - 99th percentile stood at 3.94% 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 - 99th percentile | 3.94 | 3.93 | 3.95 | 3.95 | 3.95 | 3.94 | 3.93 | 3.94 | 3.95 | 3.95 | |
| 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 |
Understanding US Overnight bank funding interest rate - 99th percentile
The US Overnight bank funding interest rate - 99th percentile highlights the extreme right tail of the broad unsecured bank funding market, capturing transactions executed at the highest rates across federal funds, eurodollars, and domestic deposits. It exposes the upper limit of funding stress and outlier pricing within the wider institutional liability structure. This metric is distinct from narrower interbank percentiles by incorporating non-federal funds instruments into the extreme upper boundary of the distribution.
Published daily on business days without routine revisions, the indicator should be read by observing its daily spread against official policy benchmarks instead of employing month-on-month or year-on-year comparisons. Seasonal effects are largely absent, though spikes in the upper tail regularly correspond with systemic liquidity squeezes and balance sheet management periods.