US Overnight bank funding interest rate (OBFR)
US Overnight bank funding interest rate (OBFR) 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Overnight bank funding interest rate (OBFR)4 | 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 (OBFR)
The US Overnight bank funding interest rate measures the volume-weighted average of overnight federal funds transactions, certain eurodollar transactions, and domestic deposits arranged by brokers. It broadens the scope of unsecured short-term wholesale funding beyond traditional federal funds by incorporating wider bank liabilities. Unlike narrow interbank measures, this indicator captures a more comprehensive cross-section of institutional funding sources, intentionally omitting secured financing instruments and repurchase agreements.
This series is published daily on every business day, reflecting the previous session with no regular subsequent revisions. Analysts evaluate the indicator by monitoring its daily levels and spreads relative to central bank interest rate corridors, steering clear of month-on-month or year-on-year frameworks. Seasonal influences are generally subdued on a daily basis, though predictable pressures emerge around regulatory reporting dates and major corporate tax deadlines.