New York Fed reference rates: SOFR, EFFR, OBFR, TGCR, BGCR
What are SOFR and the other overnight rates today?
On , the SOFR was 3.95%, 2 basis points higher than the business day before; the EFFR on was 3.88%.
The 5 rates on 27 October 2026, with the spread of the day's transactions
Each row is one rate's transactions on its day: the thin bar runs from the 1st to the 99th percentile, the thick one from the 25th to the 75th, and the dot is the rate itself; the shaded column is the FOMC's target range for the federal funds rate.
The linesLatest:
- SOFR3.95%
- EFFR3.88%
- TGCR3.94%
- BGCR3.94%
- OBFR3.88%
Observed .
Right now
The SOFR was 3.95% on , 2 basis points higher than the business day before.
The FOMC's target range for the federal funds rate on : 3.75% to 4.00%.
Each rate
Understanding the reference rates
Where it stands today
The SOFR was 3.95% on .
What do these rates measure?
Each rate is for one business day and is published the next business day; a rate can be revised the same afternoon, and the page then shows the revised rate.
Read more
- SOFR, the Secured Overnight Financing Rate: the cost of borrowing cash overnight against Treasury securities in the repo market, across tri-party, general collateral and bilateral trades cleared through FICC.
- TGCR, the Tri-Party General Collateral Rate: the cost of overnight repo borrowing against Treasury securities in the tri-party market.
- BGCR, the Broad General Collateral Rate: the cost of overnight tri-party repo against Treasury securities, plus general collateral trades cleared through FICC.
- EFFR, the Effective Federal Funds Rate: the rate banks pay each other to borrow reserves overnight in the federal funds market.
- OBFR, the Overnight Bank Funding Rate: the cost of overnight unsecured bank borrowing, from federal funds and Eurodollar trades.
Percentiles describe the spread of the day's transactions, weighted by volume, as the New York Fed publishes them.
The numbers behind the chart
What was each rate on its latest day?Rates, percentiles, volumes and our change
| Rate | Day | Rate | Change | 1st percentile | 99th percentile | Volume |
|---|---|---|---|---|---|---|
| SOFR | 3.95% | +2 | 3.88% | 4.04% | 3,147 | |
| TGCR | 3.94% | +3 | 3.83% | 3.96% | 1,191 | |
| BGCR | 3.94% | +3 | 3.83% | 3.98% | 1,221 | |
| EFFR | 3.88% | 0 | 3.85% | 3.94% | 115 | |
| OBFR | 3.88% | 0 | 3.80% | 3.95% | 211 |
The table scrolls sideways; the first column stays in place.
How much traded behind each rate?$ billion, latest day
The dollar volume of the transactions behind each rate on its latest day.
What do the figures leave out, and what are their dates?Limits and dates
What this number cannot tell you
- Each rate is for one business day and is published the next business day; a rate can be revised the same afternoon, and the page then shows the revised rate.
- Percentiles describe the spread of the day's transactions, weighted by volume, as the New York Fed publishes them.
Observed .
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Page updated
Sources
© 2026 Federal Reserve Bank of New York. Content from the New York Fed subject to the Terms of Use at newyorkfed.org. (source) Terms: Federal Reserve Bank of New York terms of use.
Changes in basis points are computed by 500metrics from the published rates.
The SOFR is subject to the Terms of Use posted at newyorkfed.org. The New York Fed is not responsible for publication of the SOFR by 500metrics, does not sanction or endorse any particular republication, and has no liability for your use.
The TGCR is subject to the Terms of Use posted at newyorkfed.org. The New York Fed is not responsible for publication of the TGCR by 500metrics, does not sanction or endorse any particular republication, and has no liability for your use.
The BGCR is subject to the Terms of Use posted at newyorkfed.org. The New York Fed is not responsible for publication of the BGCR by 500metrics, does not sanction or endorse any particular republication, and has no liability for your use.
The EFFR is subject to the Terms of Use posted at newyorkfed.org. The New York Fed is not responsible for publication of the EFFR by 500metrics, does not sanction or endorse any particular republication, and has no liability for your use.
The OBFR is subject to the Terms of Use posted at newyorkfed.org. The New York Fed is not responsible for publication of the OBFR by 500metrics, does not sanction or endorse any particular republication, and has no liability for your use.
The Secured Overnight Financing Rate (SOFR) Data and Broad General Collateral Rate (BGCR) Data are calculated using data provided under a license granted to the New York Fed by DTCC Solutions LLC ("Solutions"), an affiliate of The Depository Trust & Clearing Corporation. Solutions, its affiliates, and third parties from which they obtained data have no liability for the content of this material.