Observations

2026-05-27: 0.12

Updated: May 28, 2026 4:02 PM CDT

Units:

Percent,

Not Seasonally Adjusted

Frequency:

Daily

Notes

Title	Release Dates

3-Month Commercial Paper Minus Federal Funds Rate	2014-01-27	2026-05-28

Source

Federal Reserve Bank of St. Louis	2014-01-27	2026-05-28

Release

Interest Rate Spreads	2014-01-27	2026-05-28

Units

Percent	2014-01-27	2026-05-28

Frequency

Daily	2014-01-27	2026-05-28

Seasonal Adjustment

Not Seasonally Adjusted	2014-01-27	2026-05-28

Notes

Series is calculated as the spread between 3-Month AA Financial Commercial Paper (https://fred.stlouisfed.org/series/DCPF3M) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/DFF).	2014-01-27	2019-06-20
Series is calculated as the spread between 3-Month AA Financial Commercial Paper (RIFSPPFAAD90NB) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/DFF). Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).	2019-06-21	2026-05-28

3-Month Commercial Paper Minus Federal Funds Rate (CPFF)