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Interest Rate on Reserve Balances (IORB Rate) (IORB)

Observations

2025-07-09: 4.40
Updated: Jul 8, 2025 3:31 PM CDT
2025-07-09:  4.40  
2025-07-08:  4.40  
2025-07-07:  4.40  
2025-07-06:  4.40  
2025-07-05:  4.40  

Units:

Percent,
Not Seasonally Adjusted

Frequency:

Daily,
7-Day

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Notes

Title Release Dates
Interest Rate on Reserve Balances 2021-07-28 2024-09-23
Interest Rate on Reserve Balances (IORB Rate) 2024-09-24 2025-07-08
 
Source    
Board of Governors of the Federal Reserve System (US) 2021-07-28 2025-07-08
 
Release    
Interest Rate on Reserve Balances 2021-07-28 2025-07-08
 
Units    
Percent 2021-07-28 2025-07-08
 
Frequency    
Daily, 7-Day 2021-07-28 2025-07-08
 
Seasonal Adjustment    
Not Seasonally Adjusted 2021-07-28 2025-07-08
 
Notes    
Starting July 29, 2021, the interest rate on excess reserves (IOER (https://fred.stlouisfed.org/series/IOER)) and the interest rate on required reserves (IORR (https://fred.stlouisfed.org/series/IORR)) were replaced with a single rate, the interest rate on reserve balances (IORB (https://fred.stlouisfed.org/series/IORB)). See the source's announcement (https://www.federalreserve.gov/newsevents/pressreleases/bcreg20210602a.htm) for more details.

The interest rate on reserve balances (IORB rate) is the rate of interest that the Federal Reserve pays on balances maintained by or on behalf of eligible institutions in master accounts at Federal Reserve Banks. The interest rate is set by the Board of Governors, and it is an important tool of monetary policy.

See Policy Tools (https://www.federalreserve.gov/monetarypolicy/reqresbalances.htm) and the IORB FAQs (https://www.federalreserve.gov/monetarypolicy/iorb-faqs.htm) for more information.

2021-07-28 2024-09-23
IOER (https://fred.stlouisfed.org/series/IOER)) and the interest rate on required reserves (IORR (https://fred.stlouisfed.org/series/IORR)) were replaced with a single rate, the interest rate on reserve balances (IORB (https://fred.stlouisfed.org/series/IORB)). See the source's announcement (https://www.federalreserve.gov/newsevents/pressreleases/bcreg20210602a.htm) for more details.

The interest rate on reserve balances (IORB rate) is the rate of interest that the Federal Reserve pays on balances maintained by or on behalf of eligible institutions in master accounts at Federal Reserve Banks. The interest rate is set by the Board of Governors, and it is an important tool of monetary policy.

See Policy Tools (https://www.federalreserve.gov/monetarypolicy/reqresbalances.htm) and the IORB FAQs (https://www.federalreserve.gov/monetarypolicy/iorb-faqs.htm) for more information.

For questions on FRED functionality, please contact us here (https://fred.stlouisfed.org/contactus/).

2024-09-24 2025-07-08

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Reserves Daily Interest Rate Interest Board of Governors Rate Nation Public Domain: Citation Requested Not Seasonally Adjusted United States of America