Notes
Source: Board of Governors of the Federal Reserve System (US)
Release: Interest Rate on Reserve Balances
Units:
Frequency:
Notes:
Starting July 29, 2021, the interest rate on excess reserves (IOER) and the interest rate on required reserves (IORR) were replaced with a single rate, the interest rate on reserve balances (IORB). See the source's announcement 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 and the IORB FAQs for more information.
For questions on FRED functionality, please contact us here.
Suggested Citation:
Board of Governors of the Federal Reserve System (US), Interest Rate on Reserve Balances (IORB Rate) [IORB], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/IORB, March 14, 2025.
