Current Interest Rates

Primary Credit

5.50%

Secondary Credit

6.00%

Seasonal Credit

5.50%

Fed Funds Target

5.25 - 5.50%

Bank Term Funding Program

5.56%

September 25, 2023

Press Releases & Announcements

U.S. Dollar (USD) LIBOR Cessation and LIBOR-Linked Collateral Reporting Updates

June 22, 2023

As USD LIBOR settings will no longer be published after June 30, 2023, financial institutions are reminded that it is important to ensure loans and securities pledged as collateral to their Reserve Banks for Discount Window and Payment System Risk purposes continue to be updated to comply with all usual eligibility requirements.

FOMC Statements

FOMC Statement

September 20, 2023

The Federal Open Market Committee decided to maintain the target range for the federal funds rate at 5.25 to 5.50 percent.

FOMC Statement

July 26, 2023

The Federal Open Market Committee has increased the target range for the federal funds rate to 5.25 to 5.50 percent.

FOMC Statement

June 14, 2023

The Federal Open Market Committee decided to maintain the target range for the federal funds rate at 5.00 to 5.25 percent.