This series will no longer be updated. More information is available in the notes below the graph. This series has been replaced with the IORB.
https://fred.stlouisfed.org/series/IORB
Federal Reserve Economic Data
Notes
Source: Board of Governors of the Federal Reserve System (US)
Release: Interest Rate on Reserve Balances
Units:
Frequency:
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 required reserves (IORR rate) is determined by the Board of Governors and is intended to eliminate effectively the implicit tax that reserve requirements used to impose on depository institutions.
See Policy Tools 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 Required Reserves (IORR Rate) (DISCONTINUED) [IORR], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/IORR, .
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