What is the effective federal funds rate (EFFR)?

The effective federal funds rate (EFFR) is calculated as a volume-weighted median of overnight federal funds transactions reported in the FR 2420 Report of Selected Money Market Rates. The New York Fed publishes the EFFR for the prior business day on the New York Fed’s website at approximately 9:00 a.m.

What is the Federal Open Market Committee (EFFR)?

For more information on the EFFR’s publication schedule and methodology, see Additional Information about Reference Rates Administered by the New York Fed. The Federal Open Market Committee establishes the target rate, or range, for trading in the federal funds market.

When does the New York Fed publish the EFFR?

The New York Fed publishes the EFFR for the prior business day on the New York Fed’s website at approximately 9:00 a.m. For more information on the EFFR’s publication schedule and methodology, see Additional Information about Reference Rates Administered by the New York Fed.