Print
Interest on Required Balances and Excess Balances
Current | Change Year:
2008: All Quarters
| Interest Rates Paid on Required Reserve Balances | |||||||
|---|---|---|---|---|---|---|---|
| Institutions with 1-Week Maintenance Period | Institutions with 2-Week Maintenance Period | ||||||
| Memorandum | Memorandum | ||||||
| Maintenance Period (Ending on) |
Rate | Average Target Federal Funds Rate During the Maint. Period2 | Spread2 | Rate | Average Target Federal Funds Rate During the Maint. Period2 | Spread2 | |
| December 31 2008 | 0.25 | NA | NA | 0.25 | NA | NA | |
| December 24 2008 | 0.25 | NA | NA | NA | NA | NA | |
| December 17 2008 | 0.791 | 0.79 | 0.00 | 0.891 | 0.89 | 0.00 | |
| December 10 2008 | 1.00 | 1.00 | 0.00 | NA | NA | NA | |
| December 3 2008 | 1.00 | 1.00 | 0.00 | 1.00 | 1.00 | 0.00 | |
| November 26 2008 | 1.00 | 1.00 | 0.00 | NA | NA | NA | |
| November 19 2008 | 1.00 | 1.00 | 0.00 | 1.00 | 1.00 | 0.00 | |
| November 12 2008 | 1.00 | 1.00 | 0.00 | NA | NA | NA | |
| November 5 2008 | 0.90 | 1.00 | 0.10 | 1.11 | 1.21 | 0.10 | |
| October 29 2008 | 1.33 | 1.43 | 0.10 | NA | NA | NA | |
| October 22 2008 | 1.40 | 1.50 | 0.10 | 1.40 | 1.50 | 0.10 | |
| October 15 2008 | 1.40 | 1.50 | 0.10 | NA | NA | NA | |
| Interest Rates Paid on Excess Reserve Balances | |||||||
|---|---|---|---|---|---|---|---|
| Institutions with 1-Week Maintenance Period | Institutions with 2-Week Maintenance Period | ||||||
| Memorandum | Memorandum | ||||||
| Maintenance Period (Ending on) |
Rate | Lowest Target Federal Funds Rate During the Maint. Period2 | Spread2 | Rate | Lowest Target Federal Funds Rate During the Maint. Period2 | Spread2 | |
| December 31 2008 | 0.25 | NA | NA | 0.25 | NA | NA | |
| December 24 2008 | 0.25 | NA | NA | NA | NA | NA | |
| December 17 2008 | 0.251 | 0.25 | 0.00 | 0.251 | 0.25 | 0.00 | |
| December 10 2008 | 1.00 | 1.00 | 0.00 | NA | NA | NA | |
| December 3 2008 | 1.00 | 1.00 | 0.00 | 1.00 | 1.00 | 0.00 | |
| November 26 2008 | 1.00 | 1.00 | 0.00 | NA | NA | NA | |
| November 19 2008 | 1.00 | 1.00 | 0.00 | 1.00 | 1.00 | 0.00 | |
| November 12 2008 | 1.00 | 1.00 | 0.00 | NA | NA | NA | |
| November 5 2008 | 0.65 | 1.00 | 0.35 | 0.65 | 1.00 | 0.35 | |
| October 29 2008 | 0.65 | 1.00 | 0.35 | NA | NA | NA | |
| October 22 2008 | 0.75 | 1.50 | 0.75 | 0.75 | 1.50 | 0.75 | |
| October 15 2008 | 0.75 | 1.50 | 0.75 | NA | NA | NA | |
Footnotes
1. The interest rates on required reserve balances and excess balances for the reserve maintenance periods ending December 17, 2008 were calculated using the upper bound of the target range of 0 to 0.25 percent established by the FOMC on December 16, 2008.
2. Effective with the reserve maintenance periods beginning December 18, 2008, the Board established interest rates paid on required reserve balances and excess balances rather than specifying a formula based on the target federal funds rate.
Last update:
June 17, 2009
