As part of our core mission, we supervise and regulate financial institutions in the Second District. Our primary objective is to maintain a safe and competitive U.S. and global banking system.
The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The New York Fed engages with individuals, households and businesses in the Second District and maintains an active dialogue in the region. The Bank gathers and shares regional economic intelligence to inform our community and policy makers, and promotes sound financial and economic decisions through community development and education programs.
The overnight bank funding rate is calculated using federal funds transactions and certain Eurodollar 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, while the Eurodollar market consists of unsecured U.S. dollar deposits held at banks or bank branches outside of the United States. U.S.-based banks can also take Eurodollar deposits domestically through international banking facilities (IBFs).
The overnight bank funding rate (OBFR) is calculated as a volume-weighted median of overnight federal funds transactions and Eurodollar transactions reported in the FR 2420 Report of Selected Money Market Rates.a The New York Fed publishes the OBFR for the prior business day on the New York Fed website at approximately 9:00 a.m.b
Use of the OBFR is subject to important disclaimers, limitations and indemnification obligations. See the Terms of Use. The New York Fed has no liability for publication of the rate on this webpage or in any other sources.
The New York Fed publishes the OBFR for general information purposes and you assume the risk for your use. The New York Fed reserves the right to alter the methods of calculation, publication schedule, rate revision practices or availability of the OBFR and the right to cease publication. The rate is provided without warranty of any kind. The New York Fed is not liable in any way for your use of the rate. See theTerms of Use.
r Revised
1 Rate was calculated with reduced volume
2 Rate was calculated using brokered data
3 Because of insufficient current data, the published rate is a republication of the prior day's rate