OBFR: Overnight Bank Funding Rate
How has the OBFR moved?
On , the Overnight Bank Funding Rate (OBFR) was 3.88%, unchanged from the business day before.
The OBFR on the last business day of each month
The OBFR each business day, with the 1st and 99th percentiles of its transactions
The linesLatest:
- OBFR3.88%
- 99th percentile3.95%
- 1st percentile3.80%
Each point is one month-end, or one business day under "Latest days"; pointing at the chart shows its date and rate.
Select a line to followLatest:
Inspect and compare dates
The latest day beside the day before and the month-ends nearest a year, five and ten years earlier.
| Day | Latest | The day before | A year earlier | Five years earlier | Ten years earlier |
|---|---|---|---|---|---|
| Date | |||||
| Rate | 3.88% | 3.88% | 4.09% | 0.06% | 0.29% |
The table scrolls sideways; the first column stays in place.
Observed .
Right now
The OBFR was 3.88% on , 2 basis points higher than on .
The OBFR ended September 2026 at 3.88%, its highest month-end since November 2025.
The day's tradesVolume-weighted percentiles
The spread of the day's transactions, $211 billion in all, weighted by volume.
- OBFR3.88%
- 1st percentile
- 3.80%
- 25th
- 3.87%
- 75th
- 3.89%
- 99th
- 3.95%
Revisions
No day since has been published twice.
The New York Fed may revise a rate the same afternoon if the change is more than one basis point. 500metrics keeps the first figure and shows the current one.
Understanding the OBFR
Where it stands today
The OBFR was 3.88% on .
What does the OBFR measure?
The Overnight Bank Funding Rate measures the cost of overnight unsecured bank borrowing, from federal funds and Eurodollar trades. The New York Fed publishes it each business day for the business day before.
Read more
Percentiles describe the spread of the day's transactions, weighted by volume, as the New York Fed publishes them. The changes in basis points are computed by 500metrics from the published rates.
The numbers behind the chart
What was the OBFR at each month-end?127 month-ends since 31 Mar 2016, newest first
| Month-end | Rate |
|---|---|
| 3.88% | |
| 3.63% | |
| 3.63% | |
| 3.63% | |
| 3.62% | |
| 3.64% | |
| 3.64% | |
| 3.63% | |
| 3.63% | |
| 3.65% | |
| 3.88% | |
| 3.86% | |
| 4.09% | |
| 4.33% | |
| 4.33% | |
| 4.33% | |
| 4.33% | |
| 4.33% | |
| 4.33% | |
| 4.33% | |
| 4.33% | |
| 4.33% | |
| 4.58% | |
| 4.83% |
Show 103 more rows
| Month-end | Rate |
|---|---|
| 4.83% | |
| 5.32% | |
| 5.32% | |
| 5.32% | |
| 5.32% | |
| 5.32% | |
| 5.33% | |
| 5.32% | |
| 5.32% | |
| 5.32% | |
| 5.32% | |
| 5.32% | |
| 5.32% | |
| 5.32% | |
| 5.32% | |
| 5.07% | |
| 5.07% | |
| 4.81% | |
| 4.82% | |
| 4.57% | |
| 4.32% | |
| 4.33% | |
| 3.82% | |
| 3.06% | |
| 3.07% | |
| 2.31% | |
| 2.31% | |
| 1.57% | |
| 0.82% | |
| 0.32% | |
| 0.32% | |
| 0.07% | |
| 0.07% | |
| 0.07% | |
| 0.07% | |
| 0.06% | |
| 0.06% | |
| 0.05% | |
| 0.06% | |
| 0.06% | |
| 0.03% | |
| 0.03% | |
| 0.05% | |
| 0.07% | |
| 0.07% | |
| 0.08% | |
| 0.08% | |
| 0.08% | |
| 0.08% | |
| 0.08% | |
| 0.09% | |
| 0.08% | |
| 0.05% | |
| 0.04% | |
| 0.06% | |
| 1.58% | |
| 1.58% | |
| 1.55% | |
| 1.55% | |
| 1.57% | |
| 1.90% | |
| 2.11% | |
| 2.37% | |
| 2.38% | |
| 2.38% | |
| 2.45% | |
| 2.41% | |
| 2.40% | |
| 2.40% | |
| 2.40% | |
| 2.19% | |
| 2.19% | |
| 2.17% | |
| 1.91% | |
| 1.90% | |
| 1.90% | |
| 1.70% | |
| 1.69% | |
| 1.67% | |
| 1.35% | |
| 1.34% | |
| 1.33% | |
| 1.08% | |
| 1.07% | |
| 1.06% | |
| 1.07% | |
| 1.07% | |
| 1.06% | |
| 0.83% | |
| 0.83% | |
| 0.82% | |
| 0.57% | |
| 0.56% | |
| 0.55% | |
| 0.31% | |
| 0.31% | |
| 0.29% | |
| 0.30% | |
| 0.30% | |
| 0.30% | |
| 0.29% | |
| 0.30% | |
| 0.25% |
What was the OBFR on each of the last 30 business days?Rates, percentiles and volumes, newest first
| Day | Rate | 1st pct. | 25th pct. | 75th pct. | 99th pct. | Volume |
|---|---|---|---|---|---|---|
| 3.88% | 3.80% | 3.87% | 3.89% | 3.95% | 211 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.95% | 216 | |
| 3.88% | 3.75% | 3.87% | 3.88% | 3.95% | 223 | |
| 3.88% | 3.78% | 3.87% | 3.88% | 3.94% | 242 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.94% | 235 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.95% | 230 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.95% | 236 | |
| 3.88% | 3.78% | 3.87% | 3.88% | 3.95% | 246 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.94% | 232 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.93% | 229 |
Show 20 more rows
| Day | Rate | 1st pct. | 25th pct. | 75th pct. | 99th pct. | Volume |
|---|---|---|---|---|---|---|
| 3.88% | 3.80% | 3.87% | 3.88% | 3.95% | 209 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.95% | 229 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.95% | 241 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.94% | 220 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.93% | 225 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.94% | 243 | |
| 3.88% | 3.75% | 3.87% | 3.88% | 3.95% | 243 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.95% | 256 | |
| 3.88% | 3.78% | 3.88% | 3.88% | 3.95% | 162 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.94% | 228 | |
| 3.88% | 3.78% | 3.87% | 3.88% | 3.93% | 218 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.93% | 225 | |
| 3.88% | 3.78% | 3.87% | 3.88% | 3.94% | 245 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.93% | 248 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.93% | 248 | |
| 3.88% | 3.80% | 3.87% | 3.88% | 3.93% | 236 | |
| 3.88% | 3.75% | 3.87% | 3.88% | 3.93% | 248 | |
| 3.88% | 3.78% | 3.87% | 3.88% | 3.92% | 266 | |
| 3.63% | 3.53% | 3.62% | 3.63% | 3.70% | 227 | |
| 3.63% | 3.55% | 3.62% | 3.63% | 3.70% | 238 |
The table scrolls sideways; the first column stays in place.
Has the OBFR been revised?No day published twice
No day since has been published twice.
When are the figures from, and how are they cited?Dates and how to cite
Observed .
How to cite this
Federal Reserve Bank of New York, Overnight Bank Funding Rate, 27 October 2026. Compiled by 500metrics, "How has the OBFR moved?", https://500metrics.com/rates/obfr.
500metrics is not affiliated with the New York Fed. The New York Fed does not sanction, endorse, or recommend any products or services offered by 500metrics.
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 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 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.