New York Fed

Overview

The Federal Reserve Bank of New York (or New York Fed) provides data on several key money market reference rates that are essential for understanding the dynamics of US financial markets. These rates are used as benchmarks for various financial products and are crucial for the implementation and evaluation of monetary policy.

• The Secured Overnight Financing Rate (SOFR) is a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities. It is a benchmark rate for U.S. dollar-denominated securities and is administered by the New York Fed based on transaction data.
• The Effective Federal Funds Rate (EFFR) is a volume-weighted median of overnight federal funds transactions. This rate is a key indicator of the federal funds market, where banks lend and borrow reserves from each other.
• The Overnight Bank Funding Rate (OBFR) is a measure of unsecured, overnight bank funding costs. It is calculated using federal funds transactions, Eurodollar transactions, and certain domestic deposit transactions.
• The Broad General Collateral Rate (BGCR) is a measure of rates on overnight Treasury general collateral repurchase agreement (repo) transactions. It includes all trades in the Tri-Party General Collateral Rate plus GCF Repo transactions.
• The Tri-Party General Collateral Rate (TGCR) is a measure of rates on overnight, specific-counterparty tri-party general collateral repo transactions secured by Treasury securities.

Key Attributes

Geographic Coverage	United States
Entity Level	National
Time Granularity	Daily
Release Frequency	Daily, with some rates published in the morning (e.g., SOFR, TGCR, BGCR) and others later (e.g., EFFR, OBFR). Publication Schedule
History	Effective Federal Funds Rate: 1954 Tri-Party General Collateral Rate: 2014 Broad General Collateral Rate: 2014 Overnight Bank Funding Rate: 2016 Secured Overnight Financing Rate: 2018

Snowflake Products

Tables above are available in the following Snowflake Public Data products:

• Finance & Economics
• Cybersyn Foundations - PAID

Sample Queries

Daily Trend of Key Overnight Reference Rates

This query shows the daily values for the Secured Overnight Financing Rate (SOFR), Effective Federal Funds Rate (EFFR), and Overnight Bank Funding Rate (OBFR) over a recent period.

Disclaimers

© 2025 Federal Reserve Bank of New York. Content from the New York Fed subject to the Terms of Use at newyorkfed.org.

The data in this product is sourced from the New York Fed, see license.
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