FRED Graph

Notes

Source: Federal Reserve Bank of New York

Release: Secured Overnight Financing Rate Data

Units: Percent, Not Seasonally Adjusted

Frequency: Daily

Suggested Citation:

Federal Reserve Bank of New York, Secured Overnight Financing Rate [SOFR], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/SOFR, .

Interest Rate on Reserve Balances (IORB Rate) (IORB)

Source: Board of Governors of the Federal Reserve System (US)

Release: Interest Rate on Reserve Balances

Units: Percent, Not Seasonally Adjusted

Frequency: Daily, 7-Day

Notes:

Starting July 29, 2021, the interest rate on excess reserves (IOER) and the interest rate on required reserves (IORR) were replaced with a single rate, the interest rate on reserve balances (IORB). See the source's announcement for more details.

The interest rate on reserve balances (IORB rate) is the rate of interest that the Federal Reserve pays on balances maintained by or on behalf of eligible institutions in master accounts at Federal Reserve Banks. The interest rate is set by the Board of Governors, and it is an important tool of monetary policy.

See Policy Tools and the IORB FAQs for more information.

For questions on FRED functionality, please contact us here.

Suggested Citation:

Board of Governors of the Federal Reserve System (US), Interest Rate on Reserve Balances (IORB Rate) [IORB], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/IORB, .