SOFR – Secured Overnight Financing Rate
SOFR (Secured Overnight Financing Rate) is a key benchmark that measures the cost of borrowing cash overnight in the U.S. market, using U.S. Treasury securities as collateral. It is a transaction-based rate reflecting the actual cost of funding in the overnight Treasury repo market.

Interactive Chart and Historical SOFR Data
The table above provides the most recent SOFR value and updates automatically every business day. Click to expand and access the interactive chart showing historical daily values. This allows you to explore overnight market trends, assess volatility, and track how short-term funding conditions in the US evolve over time.

Calculation and Publication
SOFR is calculated as a volume-weighted median based on actual repo transactions, using trade-level data from tri-party and bilateral markets. It is published daily by the Federal Reserve Bank of New York at approximately 14:00 CET (08:00 New York time), based on transactions from the previous day.


Frequently Asked Questions about SOFR

What is SOFR?
SOFR stands for Secured Overnight Financing Rate. It is the average interest rate for overnight borrowing collateralized by U.S. Treasury securities. It replaced LIBOR as the preferred benchmark for USD-denominated financial products.

How is SOFR calculated?
SOFR is calculated as a volume-weighted median of overnight repo transactions, based on real trade-level data collected by the New York Fed. It captures funding costs across a large segment of the U.S. Treasury repo market.

When is SOFR published?
SOFR is released by the Federal Reserve Bank of New York each business day at around 14:00 CET (08:00 New York time), reflecting the previous day's market activity.

What’s the difference between SOFR and EFFR?
SOFR is based on secured transactions (backed by collateral), while the Effective Federal Funds Rate (EFFR) is based on unsecured lending between U.S. banks.

Why is SOFR important?
SOFR is a critical reference rate for pricing loans, bonds, derivatives, and securitized products. It is now widely used in U.S. financial markets and is recognized as the official alternative to USD LIBOR.

Where can I view historical SOFR data?
By expanding the table row above, you can access the interactive SOFR chart and browse historical values across different time periods for deeper analysis.

EFFR – Effective Federal Funds Rate
The Effective Federal Funds Rate (EFFR) represents the weighted median interest rate for overnight unsecured lending in U.S. dollars between depository institutions in the United States. It serves as a critical benchmark for short-term interest rates across the U.S. economy.

Interactive Chart and Historical EFFR Data
The table above is updated daily and displays the latest EFFR values. The row can be expanded to show a real-time graph of historical movements. This visualization helps you analyze how the rate has evolved over time in response to monetary policy changes and market conditions.

Publication and Market Context
EFFR is published by the Federal Reserve Bank of New York each business day at approximately 15:00 CET (09:00 New York local time), based on transactions from the previous day. The rate reflects real market activity within the federal funds market, which includes transactions among U.S. depository institutions and eligible government-sponsored enterprises.


Frequently Asked Questions about EFFR

What is the Effective Federal Funds Rate?
EFFR is the volume-weighted median interest rate at which depository institutions in the United States lend balances to each other overnight. It plays a central role in guiding U.S. monetary policy and financial conditions.

Who publishes the EFFR?
The Federal Reserve Bank of New York publishes the EFFR each business day, based on actual transactions reported in the federal funds market from the previous day.

What time is the EFFR released?
EFFR is typically released at around 15:00 CET (09:00 New York time), reflecting overnight transactions conducted the day before.

How is the EFFR calculated?
EFFR is calculated as a volume-weighted median of reported overnight federal funds transactions. It provides a more stable and representative measure than simple averages, especially during periods of market volatility.

What does the EFFR indicate?
EFFR reflects the cost of short-term liquidity in the U.S. banking system. It is used by the Federal Reserve as the main instrument to guide its monetary policy stance, including decisions on the federal funds target range.

How does EFFR affect financial markets?
Changes in the EFFR impact interest rates for loans, credit cards, mortgages, and savings products. It also influences broader financial market conditions, investment strategies, and economic sentiment.

Where can I track the current and historical EFFR?
You can use the interactive chart provided in the table above to view daily EFFR values and analyze trends over different timeframes, from recent shifts to long-term historical data.

The Yield Curve Spot Rates are the nominal interest rates on US government bonds with various maturities. The data is reported by the FED each business day at around 10:15 CET (16:15 New York local time), focusing on the previous day.
A yield curve (also known as the term structure of interest rates) represents the relationship between interest rates and the remaining time to maturity of debt securities. These yields reflect market participants' expectations of future inflation, real interest rates and assessment of various risks.