Effective Fed Funds rate

The Effective Federal Funds Rate is calculated as a volume-weighted median of overnight federal funds transactions. The federal funds market consists of domestic unsecured borrowings in U.S. dollars by depository institutions from other depository institutions and certain other entities, primarily government-sponsored enterprises. The New York FED publishes the EFFR each business day for the previous day at around 15:00 CET (09:00 New York local time).