Accessible Version
Interest on Excess Reserves and US Commercial Bank Lending Accessible Data
Figure 1: Interest on Excess Reserves and Effective Federal Funds Rates
| Date | IOER | Effective Federal Funds Rate (FFR) | Lower FFR | Upper FFR |
|---|---|---|---|---|
| 1/2/2008 | NA | 3.77 | 4.13 | 4.38 |
| 1/9/2008 | NA | 4.23 | 4.13 | 4.38 |
| 1/16/2008 | NA | 4.24 | 4.13 | 4.38 |
| 1/23/2008 | NA | 4 | 3.38 | 3.63 |
| 1/30/2008 | NA | 3.5 | 2.88 | 3.13 |
| 2/6/2008 | NA | 3.01 | 2.88 | 3.13 |
| 2/13/2008 | NA | 3 | 2.88 | 3.13 |
| 2/20/2008 | NA | 2.98 | 2.88 | 3.13 |
| 2/27/2008 | NA | 2.96 | 2.88 | 3.13 |
| 3/5/2008 | NA | 3 | 2.88 | 3.13 |
| 3/12/2008 | NA | 2.97 | 2.88 | 3.13 |
| 3/19/2008 | NA | 2.7 | 2.13 | 2.38 |
| 3/26/2008 | NA | 2.18 | 2.13 | 2.38 |
| 4/2/2008 | NA | 2.23 | 2.13 | 2.38 |
| 4/9/2008 | NA | 2.23 | 2.13 | 2.38 |
| 4/16/2008 | NA | 2.34 | 2.13 | 2.38 |
| 4/23/2008 | NA | 2.25 | 2.13 | 2.38 |
| 4/30/2008 | NA | 2.28 | 1.88 | 2.13 |
| 5/7/2008 | NA | 1.94 | 1.88 | 2.13 |
| 5/14/2008 | NA | 1.96 | 1.88 | 2.13 |
| 5/21/2008 | NA | 1.96 | 1.88 | 2.13 |
| 5/28/2008 | NA | 2.05 | 1.88 | 2.13 |
| 6/4/2008 | NA | 1.99 | 1.88 | 2.13 |
| 6/11/2008 | NA | 1.99 | 1.88 | 2.13 |
| 6/18/2008 | NA | 1.98 | 1.88 | 2.13 |
| 6/25/2008 | NA | 1.97 | 1.88 | 2.13 |
| 7/2/2008 | NA | 2.08 | 1.88 | 2.13 |
| 7/9/2008 | NA | 1.95 | 1.88 | 2.13 |
| 7/16/2008 | NA | 2.01 | 1.88 | 2.13 |
| 7/23/2008 | NA | 1.99 | 1.88 | 2.13 |
| 7/30/2008 | NA | 2.08 | 1.88 | 2.13 |
| 8/6/2008 | NA | 2.02 | 1.88 | 2.13 |
| 8/13/2008 | NA | 1.99 | 1.88 | 2.13 |
| 8/20/2008 | NA | 2.02 | 1.88 | 2.13 |
| 8/27/2008 | NA | 1.99 | 1.88 | 2.13 |
| 9/3/2008 | NA | 1.96 | 1.88 | 2.13 |
| 9/10/2008 | NA | 1.99 | 1.88 | 2.13 |
| 9/17/2008 | NA | 2.25 | 1.88 | 2.13 |
| 9/24/2008 | NA | 1.54 | 1.88 | 2.13 |
| 10/1/2008 | NA | 1.32 | 1.88 | 2.13 |
| 10/8/2008 | NA | 1.59 | 1.38 | 1.63 |
| 10/15/2008 | 0.75 | 0.96 | 1.38 | 1.63 |
| 10/22/2008 | 0.75 | 0.69 | 1.38 | 1.63 |
| 10/29/2008 | 1.08 | 0.82 | 0.88 | 1.13 |
| 11/5/2008 | 0.65 | 0.24 | 0.88 | 1.13 |
| 11/12/2008 | 1 | 0.28 | 0.88 | 1.13 |
| 11/19/2008 | 1 | 0.36 | 0.88 | 1.13 |
| 11/26/2008 | 1 | 0.56 | 0.88 | 1.13 |
| 12/3/2008 | 1 | 0.49 | 0.88 | 1.13 |
| 12/10/2008 | 1 | 0.13 | 0.88 | 1.13 |
| 12/17/2008 | 0.79 | 0.15 | 0 | 0.25 |
| 12/24/2008 | 0.25 | 0.11 | 0 | 0.25 |
| 12/31/2008 | 0.25 | 0.1 | 0 | 0.25 |
| 1/7/2009 | 0.25 | 0.1 | 0 | 0.25 |
| 1/14/2009 | 0.25 | 0.1 | 0 | 0.25 |
| 1/21/2009 | 0.25 | 0.2 | 0 | 0.25 |
| 1/28/2009 | 0.25 | 0.19 | 0 | 0.25 |
| 2/4/2009 | 0.25 | 0.23 | 0 | 0.25 |
| 2/11/2009 | 0.25 | 0.23 | 0 | 0.25 |
| 2/18/2009 | 0.25 | 0.23 | 0 | 0.25 |
| 2/25/2009 | 0.25 | 0.2 | 0 | 0.25 |
| 3/4/2009 | 0.25 | 0.22 | 0 | 0.25 |
| 3/11/2009 | 0.25 | 0.2 | 0 | 0.25 |
| 3/18/2009 | 0.25 | 0.17 | 0 | 0.25 |
| 3/25/2009 | 0.25 | 0.17 | 0 | 0.25 |
| 4/1/2009 | 0.25 | 0.16 | 0 | 0.25 |
| 4/8/2009 | 0.25 | 0.14 | 0 | 0.25 |
| 4/15/2009 | 0.25 | 0.15 | 0 | 0.25 |
| 4/22/2009 | 0.25 | 0.14 | 0 | 0.25 |
| 4/29/2009 | 0.25 | 0.17 | 0 | 0.25 |
| 5/6/2009 | 0.25 | 0.21 | 0 | 0.25 |
| 5/13/2009 | 0.25 | 0.17 | 0 | 0.25 |
| 5/20/2009 | 0.25 | 0.16 | 0 | 0.25 |
| 5/27/2009 | 0.25 | 0.17 | 0 | 0.25 |
| 6/3/2009 | 0.25 | 0.19 | 0 | 0.25 |
| 6/10/2009 | 0.25 | 0.2 | 0 | 0.25 |
| 6/17/2009 | 0.25 | 0.19 | 0 | 0.25 |
| 6/24/2009 | 0.25 | 0.24 | 0 | 0.25 |
| 7/1/2009 | 0.25 | 0.19 | 0 | 0.25 |
| 7/8/2009 | 0.25 | 0.17 | 0 | 0.25 |
| 7/15/2009 | 0.25 | 0.14 | 0 | 0.25 |
| 7/22/2009 | 0.25 | 0.15 | 0 | 0.25 |
| 7/29/2009 | 0.25 | 0.15 | 0 | 0.25 |
| 8/5/2009 | 0.25 | 0.18 | 0 | 0.25 |
| 8/12/2009 | 0.25 | 0.17 | 0 | 0.25 |
| 8/19/2009 | 0.25 | 0.16 | 0 | 0.25 |
| 8/26/2009 | 0.25 | 0.16 | 0 | 0.25 |
| 9/2/2009 | 0.25 | 0.15 | 0 | 0.25 |
| 9/9/2009 | 0.25 | 0.15 | 0 | 0.25 |
| 9/16/2009 | 0.25 | 0.16 | 0 | 0.25 |
| 9/23/2009 | 0.25 | 0.16 | 0 | 0.25 |
| 9/30/2009 | 0.25 | 0.12 | 0 | 0.25 |
| 10/7/2009 | 0.25 | 0.13 | 0 | 0.25 |
| 10/14/2009 | 0.25 | 0.12 | 0 | 0.25 |
| 10/21/2009 | 0.25 | 0.12 | 0 | 0.25 |
| 10/28/2009 | 0.25 | 0.11 | 0 | 0.25 |
| 11/4/2009 | 0.25 | 0.12 | 0 | 0.25 |
| 11/11/2009 | 0.25 | 0.12 | 0 | 0.25 |
| 11/18/2009 | 0.25 | 0.12 | 0 | 0.25 |
| 11/25/2009 | 0.25 | 0.11 | 0 | 0.25 |
| 12/2/2009 | 0.25 | 0.12 | 0 | 0.25 |
| 12/9/2009 | 0.25 | 0.12 | 0 | 0.25 |
| 12/16/2009 | 0.25 | 0.12 | 0 | 0.25 |
| 12/23/2009 | 0.25 | 0.12 | 0 | 0.25 |
| 12/30/2009 | 0.25 | 0.11 | 0 | 0.25 |
| 1/6/2010 | 0.25 | 0.08 | 0 | 0.25 |
| 1/13/2010 | 0.25 | 0.11 | 0 | 0.25 |
| 1/20/2010 | 0.25 | 0.12 | 0 | 0.25 |
| 1/27/2010 | 0.25 | 0.12 | 0 | 0.25 |
| 2/3/2010 | 0.25 | 0.13 | 0 | 0.25 |
| 2/10/2010 | 0.25 | 0.13 | 0 | 0.25 |
| 2/17/2010 | 0.25 | 0.12 | 0 | 0.25 |
| 2/24/2010 | 0.25 | 0.12 | 0 | 0.25 |
| 3/3/2010 | 0.25 | 0.13 | 0 | 0.25 |
| 3/10/2010 | 0.25 | 0.16 | 0 | 0.25 |
| 3/17/2010 | 0.25 | 0.18 | 0 | 0.25 |
| 3/24/2010 | 0.25 | 0.18 | 0 | 0.25 |
| 3/31/2010 | 0.25 | 0.16 | 0 | 0.25 |
| 4/7/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 4/14/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 4/21/2010 | 0.25 | 0.21 | 0 | 0.25 |
| 4/28/2010 | 0.25 | 0.2 | 0 | 0.25 |
| 5/5/2010 | 0.25 | 0.2 | 0 | 0.25 |
| 5/12/2010 | 0.25 | 0.2 | 0 | 0.25 |
| 5/19/2010 | 0.25 | 0.2 | 0 | 0.25 |
| 5/26/2010 | 0.25 | 0.2 | 0 | 0.25 |
| 6/2/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 6/9/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 6/16/2010 | 0.25 | 0.18 | 0 | 0.25 |
| 6/23/2010 | 0.25 | 0.18 | 0 | 0.25 |
| 6/30/2010 | 0.25 | 0.15 | 0 | 0.25 |
| 7/7/2010 | 0.25 | 0.18 | 0 | 0.25 |
| 7/14/2010 | 0.25 | 0.17 | 0 | 0.25 |
| 7/21/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 7/28/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 8/4/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 8/11/2010 | 0.25 | 0.18 | 0 | 0.25 |
| 8/18/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 8/25/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 9/1/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 9/8/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 9/15/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 9/22/2010 | 0.25 | 0.21 | 0 | 0.25 |
| 9/29/2010 | 0.25 | 0.2 | 0 | 0.25 |
| 10/6/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 10/13/2010 | 0.25 | 0.18 | 0 | 0.25 |
| 10/20/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 10/27/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 11/3/2010 | 0.25 | 0.2 | 0 | 0.25 |
| 11/10/2010 | 0.25 | 0.18 | 0 | 0.25 |
| 11/17/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 11/24/2010 | 0.25 | 0.2 | 0 | 0.25 |
| 12/1/2010 | 0.25 | 0.2 | 0 | 0.25 |
| 12/8/2010 | 0.25 | 0.18 | 0 | 0.25 |
| 12/15/2010 | 0.25 | 0.17 | 0 | 0.25 |
| 12/22/2010 | 0.25 | 0.2 | 0 | 0.25 |
| 12/29/2010 | 0.25 | 0.19 | 0 | 0.25 |
| 1/5/2011 | 0.25 | 0.16 | 0 | 0.25 |
| 1/12/2011 | 0.25 | 0.17 | 0 | 0.25 |
| 1/19/2011 | 0.25 | 0.17 | 0 | 0.25 |
| 1/26/2011 | 0.25 | 0.17 | 0 | 0.25 |
| 2/2/2011 | 0.25 | 0.17 | 0 | 0.25 |
| 2/9/2011 | 0.25 | 0.17 | 0 | 0.25 |
| 2/16/2011 | 0.25 | 0.15 | 0 | 0.25 |
| 2/23/2011 | 0.25 | 0.15 | 0 | 0.25 |
| 3/2/2011 | 0.25 | 0.15 | 0 | 0.25 |
| 3/9/2011 | 0.25 | 0.15 | 0 | 0.25 |
| 3/16/2011 | 0.25 | 0.14 | 0 | 0.25 |
| 3/23/2011 | 0.25 | 0.14 | 0 | 0.25 |
| 3/30/2011 | 0.25 | 0.13 | 0 | 0.25 |
| 4/6/2011 | 0.25 | 0.1 | 0 | 0.25 |
| 4/13/2011 | 0.25 | 0.09 | 0 | 0.25 |
| 4/20/2011 | 0.25 | 0.11 | 0 | 0.25 |
| 4/27/2011 | 0.25 | 0.1 | 0 | 0.25 |
| 5/4/2011 | 0.25 | 0.09 | 0 | 0.25 |
| 5/11/2011 | 0.25 | 0.09 | 0 | 0.25 |
| 5/18/2011 | 0.25 | 0.09 | 0 | 0.25 |
| 5/25/2011 | 0.25 | 0.1 | 0 | 0.25 |
| 6/1/2011 | 0.25 | 0.1 | 0 | 0.25 |
| 6/8/2011 | 0.25 | 0.1 | 0 | 0.25 |
| 6/15/2011 | 0.25 | 0.09 | 0 | 0.25 |
| 6/22/2011 | 0.25 | 0.1 | 0 | 0.25 |
| 6/29/2011 | 0.25 | 0.08 | 0 | 0.25 |
| 7/6/2011 | 0.25 | 0.08 | 0 | 0.25 |
| 7/13/2011 | 0.25 | 0.07 | 0 | 0.25 |
| 7/20/2011 | 0.25 | 0.06 | 0 | 0.25 |
| 7/27/2011 | 0.25 | 0.06 | 0 | 0.25 |
| 8/3/2011 | 0.25 | 0.12 | 0 | 0.25 |
| 8/10/2011 | 0.25 | 0.09 | 0 | 0.25 |
| 8/17/2011 | 0.25 | 0.1 | 0 | 0.25 |
| 8/24/2011 | 0.25 | 0.09 | 0 | 0.25 |
| 8/31/2011 | 0.25 | 0.09 | 0 | 0.25 |
| 9/7/2011 | 0.25 | 0.08 | 0 | 0.25 |
| 9/14/2011 | 0.25 | 0.09 | 0 | 0.25 |
| 9/21/2011 | 0.25 | 0.09 | 0 | 0.25 |
| 9/28/2011 | 0.25 | 0.08 | 0 | 0.25 |
| 10/5/2011 | 0.25 | 0.07 | 0 | 0.25 |
| 10/12/2011 | 0.25 | 0.07 | 0 | 0.25 |
| 10/19/2011 | 0.25 | 0.07 | 0 | 0.25 |
| 10/26/2011 | 0.25 | 0.07 | 0 | 0.25 |
| 11/2/2011 | 0.25 | 0.08 | 0 | 0.25 |
| 11/9/2011 | 0.25 | 0.08 | 0 | 0.25 |
| 11/16/2011 | 0.25 | 0.08 | 0 | 0.25 |
| 11/23/2011 | 0.25 | 0.08 | 0 | 0.25 |
| 11/30/2011 | 0.25 | 0.08 | 0 | 0.25 |
| 12/7/2011 | 0.25 | 0.08 | 0 | 0.25 |
| 12/14/2011 | 0.25 | 0.07 | 0 | 0.25 |
| 12/21/2011 | 0.25 | 0.07 | 0 | 0.25 |
| 12/28/2011 | 0.25 | 0.08 | 0 | 0.25 |
| 1/4/2012 | 0.25 | 0.05 | 0 | 0.25 |
| 1/11/2012 | 0.25 | 0.07 | 0 | 0.25 |
| 1/18/2012 | 0.25 | 0.09 | 0 | 0.25 |
| 1/25/2012 | 0.25 | 0.09 | 0 | 0.25 |
| 2/1/2012 | 0.25 | 0.09 | 0 | 0.25 |
| 2/8/2012 | 0.25 | 0.11 | 0 | 0.25 |
| 2/15/2012 | 0.25 | 0.12 | 0 | 0.25 |
| 2/22/2012 | 0.25 | 0.09 | 0 | 0.25 |
| 2/29/2012 | 0.25 | 0.09 | 0 | 0.25 |
| 3/7/2012 | 0.25 | 0.11 | 0 | 0.25 |
| 3/14/2012 | 0.25 | 0.12 | 0 | 0.25 |
| 3/21/2012 | 0.25 | 0.15 | 0 | 0.25 |
| 3/28/2012 | 0.25 | 0.14 | 0 | 0.25 |
| 4/4/2012 | 0.25 | 0.12 | 0 | 0.25 |
| 4/11/2012 | 0.25 | 0.14 | 0 | 0.25 |
| 4/18/2012 | 0.25 | 0.15 | 0 | 0.25 |
| 4/25/2012 | 0.25 | 0.13 | 0 | 0.25 |
| 5/2/2012 | 0.25 | 0.14 | 0 | 0.25 |
| 5/9/2012 | 0.25 | 0.16 | 0 | 0.25 |
| 5/16/2012 | 0.25 | 0.15 | 0 | 0.25 |
| 5/23/2012 | 0.25 | 0.16 | 0 | 0.25 |
| 5/30/2012 | 0.25 | 0.15 | 0 | 0.25 |
| 6/6/2012 | 0.25 | 0.16 | 0 | 0.25 |
| 6/13/2012 | 0.25 | 0.17 | 0 | 0.25 |
| 6/20/2012 | 0.25 | 0.17 | 0 | 0.25 |
| 6/27/2012 | 0.25 | 0.17 | 0 | 0.25 |
| 7/4/2012 | 0.25 | 0.13 | 0 | 0.25 |
| 7/11/2012 | 0.25 | 0.17 | 0 | 0.25 |
| 7/18/2012 | 0.25 | 0.18 | 0 | 0.25 |
| 7/25/2012 | 0.25 | 0.14 | 0 | 0.25 |
| 8/1/2012 | 0.25 | 0.14 | 0 | 0.25 |
| 8/8/2012 | 0.25 | 0.14 | 0 | 0.25 |
| 8/15/2012 | 0.25 | 0.13 | 0 | 0.25 |
| 8/22/2012 | 0.25 | 0.13 | 0 | 0.25 |
| 8/29/2012 | 0.25 | 0.13 | 0 | 0.25 |
| 9/5/2012 | 0.25 | 0.14 | 0 | 0.25 |
| 9/12/2012 | 0.25 | 0.15 | 0 | 0.25 |
| 9/19/2012 | 0.25 | 0.16 | 0 | 0.25 |
| 9/26/2012 | 0.25 | 0.15 | 0 | 0.25 |
| 10/3/2012 | 0.25 | 0.13 | 0 | 0.25 |
| 10/10/2012 | 0.25 | 0.15 | 0 | 0.25 |
| 10/17/2012 | 0.25 | 0.16 | 0 | 0.25 |
| 10/24/2012 | 0.25 | 0.16 | 0 | 0.25 |
| 10/31/2012 | 0.25 | 0.17 | 0 | 0.25 |
| 11/7/2012 | 0.25 | 0.16 | 0 | 0.25 |
| 11/14/2012 | 0.25 | 0.16 | 0 | 0.25 |
| 11/21/2012 | 0.25 | 0.16 | 0 | 0.25 |
| 11/28/2012 | 0.25 | 0.16 | 0 | 0.25 |
| 12/5/2012 | 0.25 | 0.16 | 0 | 0.25 |
| 12/12/2012 | 0.25 | 0.16 | 0 | 0.25 |
| 12/19/2012 | 0.25 | 0.17 | 0 | 0.25 |
| 12/26/2012 | 0.25 | 0.17 | 0 | 0.25 |
| 1/2/2013 | 0.25 | 0.15 | 0 | 0.25 |
| 1/9/2013 | 0.25 | 0.16 | 0 | 0.25 |
| 1/16/2013 | 0.25 | 0.14 | 0 | 0.25 |
| 1/23/2013 | 0.25 | 0.14 | 0 | 0.25 |
| 1/30/2013 | 0.25 | 0.14 | 0 | 0.25 |
| 2/6/2013 | 0.25 | 0.14 | 0 | 0.25 |
| 2/13/2013 | 0.25 | 0.14 | 0 | 0.25 |
| 2/20/2013 | 0.25 | 0.15 | 0 | 0.25 |
| 2/27/2013 | 0.25 | 0.15 | 0 | 0.25 |
| 3/6/2013 | 0.25 | 0.15 | 0 | 0.25 |
| 3/13/2013 | 0.25 | 0.15 | 0 | 0.25 |
| 3/20/2013 | 0.25 | 0.16 | 0 | 0.25 |
| 3/27/2013 | 0.25 | 0.15 | 0 | 0.25 |
| 4/3/2013 | 0.25 | 0.12 | 0 | 0.25 |
| 4/10/2013 | 0.25 | 0.15 | 0 | 0.25 |
| 4/17/2013 | 0.25 | 0.15 | 0 | 0.25 |
| 4/24/2013 | 0.25 | 0.15 | 0 | 0.25 |
| 5/1/2013 | 0.25 | 0.13 | 0 | 0.25 |
| 5/8/2013 | 0.25 | 0.14 | 0 | 0.25 |
| 5/15/2013 | 0.25 | 0.12 | 0 | 0.25 |
| 5/22/2013 | 0.25 | 0.1 | 0 | 0.25 |
| 5/29/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 6/5/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 6/12/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 6/19/2013 | 0.25 | 0.1 | 0 | 0.25 |
| 6/26/2013 | 0.25 | 0.1 | 0 | 0.25 |
| 7/3/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 7/10/2013 | 0.25 | 0.1 | 0 | 0.25 |
| 7/17/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 7/24/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 7/31/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 8/7/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 8/14/2013 | 0.25 | 0.08 | 0 | 0.25 |
| 8/21/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 8/28/2013 | 0.25 | 0.08 | 0 | 0.25 |
| 9/4/2013 | 0.25 | 0.08 | 0 | 0.25 |
| 9/11/2013 | 0.25 | 0.08 | 0 | 0.25 |
| 9/18/2013 | 0.25 | 0.08 | 0 | 0.25 |
| 9/25/2013 | 0.25 | 0.08 | 0 | 0.25 |
| 10/2/2013 | 0.25 | 0.08 | 0 | 0.25 |
| 10/9/2013 | 0.25 | 0.08 | 0 | 0.25 |
| 10/16/2013 | 0.25 | 0.1 | 0 | 0.25 |
| 10/23/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 10/30/2013 | 0.25 | 0.08 | 0 | 0.25 |
| 11/6/2013 | 0.25 | 0.08 | 0 | 0.25 |
| 11/13/2013 | 0.25 | 0.08 | 0 | 0.25 |
| 11/20/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 11/27/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 12/4/2013 | 0.25 | 0.08 | 0 | 0.25 |
| 12/11/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 12/18/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 12/25/2013 | 0.25 | 0.09 | 0 | 0.25 |
| 1/1/2014 | 0.25 | 0.08 | 0 | 0.25 |
| 1/8/2014 | 0.25 | 0.08 | 0 | 0.25 |
| 1/15/2014 | 0.25 | 0.07 | 0 | 0.25 |
| 1/22/2014 | 0.25 | 0.07 | 0 | 0.25 |
| 1/29/2014 | 0.25 | 0.07 | 0 | 0.25 |
| 2/5/2014 | 0.25 | 0.07 | 0 | 0.25 |
| 2/12/2014 | 0.25 | 0.06 | 0 | 0.25 |
| 2/19/2014 | 0.25 | 0.06 | 0 | 0.25 |
| 2/26/2014 | 0.25 | 0.07 | 0 | 0.25 |
| 3/5/2014 | 0.25 | 0.07 | 0 | 0.25 |
| 3/12/2014 | 0.25 | 0.08 | 0 | 0.25 |
| 3/19/2014 | 0.25 | 0.08 | 0 | 0.25 |
| 3/26/2014 | 0.25 | 0.08 | 0 | 0.25 |
| 4/2/2014 | 0.25 | 0.08 | 0 | 0.25 |
| 4/9/2014 | 0.25 | 0.08 | 0 | 0.25 |
| 4/16/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 4/23/2014 | 0.25 | 0.1 | 0 | 0.25 |
| 4/30/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 5/7/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 5/14/2014 | 0.25 | 0.08 | 0 | 0.25 |
| 5/21/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 5/28/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 6/4/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 6/11/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 6/18/2014 | 0.25 | 0.1 | 0 | 0.25 |
| 6/25/2014 | 0.25 | 0.1 | 0 | 0.25 |
| 7/2/2014 | 0.25 | 0.1 | 0 | 0.25 |
| 7/9/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 7/16/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 7/23/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 7/30/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 8/6/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 8/13/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 8/20/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 8/27/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 9/3/2014 | 0.25 | 0.08 | 0 | 0.25 |
| 9/10/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 9/17/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 9/24/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 10/1/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 10/8/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 10/15/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 10/22/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 10/29/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 11/5/2014 | 0.25 | 0.08 | 0 | 0.25 |
| 11/12/2014 | 0.25 | 0.09 | 0 | 0.25 |
| 11/19/2014 | 0.25 | 0.1 | 0 | 0.25 |
| 11/26/2014 | 0.25 | 0.1 | 0 | 0.25 |
| 12/3/2014 | 0.25 | 0.1 | 0 | 0.25 |
| 12/10/2014 | 0.25 | 0.12 | 0 | 0.25 |
| 12/17/2014 | 0.25 | 0.12 | 0 | 0.25 |
| 12/24/2014 | 0.25 | 0.13 | 0 | 0.25 |
| 12/31/2014 | 0.25 | 0.12 | 0 | 0.25 |
| 1/7/2015 | 0.25 | 0.11 | 0 | 0.25 |
| 1/14/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 1/21/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 1/28/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 2/4/2015 | 0.25 | 0.09 | 0 | 0.25 |
| 2/11/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 2/18/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 2/25/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 3/4/2015 | 0.25 | 0.09 | 0 | 0.25 |
| 3/11/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 3/18/2015 | 0.25 | 0.11 | 0 | 0.25 |
| 3/25/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 4/1/2015 | 0.25 | 0.11 | 0 | 0.25 |
| 4/8/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 4/15/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 4/22/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 4/29/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 5/6/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 5/13/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 5/20/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 5/27/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 6/3/2015 | 0.25 | 0.1 | 0 | 0.25 |
| 6/10/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 6/17/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 6/24/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 7/1/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 7/8/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 7/15/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 7/22/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 7/29/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 8/5/2015 | 0.25 | 0.11 | 0 | 0.25 |
| 8/12/2015 | 0.25 | 0.14 | 0 | 0.25 |
| 8/19/2015 | 0.25 | 0.15 | 0 | 0.25 |
| 8/26/2015 | 0.25 | 0.15 | 0 | 0.25 |
| 9/2/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 9/9/2015 | 0.25 | 0.14 | 0 | 0.25 |
| 9/16/2015 | 0.25 | 0.14 | 0 | 0.25 |
| 9/23/2015 | 0.25 | 0.14 | 0 | 0.25 |
| 9/30/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 10/7/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 10/14/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 10/21/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 10/28/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 11/4/2015 | 0.25 | 0.1 | 0 | 0.25 |
| 11/11/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 11/18/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 11/25/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 12/2/2015 | 0.25 | 0.12 | 0 | 0.25 |
| 12/9/2015 | 0.25 | 0.13 | 0 | 0.25 |
| 12/16/2015 | 0.25 | 0.14 | 0 | 0.25 |
| 12/23/2015 | 0.5 | 0.37 | 0.25 | 0.5 |
| 12/30/2015 | 0.5 | 0.36 | 0.25 | 0.5 |
| 1/6/2016 | 0.5 | 0.27 | 0.25 | 0.5 |
| 1/13/2016 | 0.5 | 0.36 | 0.25 | 0.5 |
| 1/20/2016 | 0.5 | 0.36 | 0.25 | 0.5 |
| 1/27/2016 | 0.5 | 0.38 | 0.25 | 0.5 |
| 2/3/2016 | 0.5 | 0.34 | 0.25 | 0.5 |
| 2/10/2016 | 0.5 | 0.38 | 0.25 | 0.5 |
| 2/17/2016 | 0.5 | 0.38 | 0.25 | 0.5 |
| 2/24/2016 | 0.5 | 0.38 | 0.25 | 0.5 |
| 3/2/2016 | 0.5 | 0.36 | 0.25 | 0.5 |
| 3/9/2016 | 0.5 | 0.36 | 0.25 | 0.5 |
| 3/16/2016 | 0.5 | 0.36 | 0.25 | 0.5 |
| 3/23/2016 | 0.5 | 0.37 | 0.25 | 0.5 |
| 3/30/2016 | 0.5 | 0.37 | 0.25 | 0.5 |
| 4/6/2016 | 0.5 | 0.35 | 0.25 | 0.5 |
| 4/13/2016 | 0.5 | 0.37 | 0.25 | 0.5 |
| 4/20/2016 | 0.5 | 0.37 | 0.25 | 0.5 |
| 4/27/2016 | 0.5 | 0.37 | 0.25 | 0.5 |
| 5/4/2016 | 0.5 | 0.34 | 0.25 | 0.5 |
| 5/11/2016 | 0.5 | 0.37 | 0.25 | 0.5 |
| 5/18/2016 | 0.5 | 0.37 | 0.25 | 0.5 |
| 5/25/2016 | 0.5 | 0.37 | 0.25 | 0.5 |
| 6/1/2016 | 0.5 | 0.36 | 0.25 | 0.5 |
| 6/8/2016 | 0.5 | 0.37 | 0.25 | 0.5 |
| 6/15/2016 | 0.5 | 0.37 | 0.25 | 0.5 |
| 6/22/2016 | 0.5 | 0.38 | 0.25 | 0.5 |
| 6/29/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 7/6/2016 | 0.5 | 0.39 | 0.25 | 0.5 |
| 7/13/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 7/20/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 7/27/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 8/3/2016 | 0.5 | 0.36 | 0.25 | 0.5 |
| 8/10/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 8/17/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 8/24/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 8/31/2016 | 0.5 | 0.39 | 0.25 | 0.5 |
| 9/7/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 9/14/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 9/21/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 9/28/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 10/5/2016 | 0.5 | 0.35 | 0.25 | 0.5 |
| 10/12/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 10/19/2016 | 0.5 | 0.41 | 0.25 | 0.5 |
| 10/26/2016 | 0.5 | 0.41 | 0.25 | 0.5 |
| 11/2/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 11/9/2016 | 0.5 | 0.41 | 0.25 | 0.5 |
| 11/16/2016 | 0.5 | 0.41 | 0.25 | 0.5 |
| 11/23/2016 | 0.5 | 0.41 | 0.25 | 0.5 |
| 11/30/2016 | 0.5 | 0.4 | 0.25 | 0.5 |
| 12/7/2016 | 0.5 | 0.41 | 0.25 | 0.5 |
| 12/14/2016 | 0.5 | 0.41 | 0.25 | 0.5 |
| 12/21/2016 | 0.75 | 0.66 | 0.5 | 0.75 |
| 12/28/2016 | 0.75 | 0.66 | 0.5 | 0.75 |
| 1/4/2017 | 0.75 | 0.6 | 0.5 | 0.75 |
| 1/11/2017 | 0.75 | 0.66 | 0.5 | 0.75 |
| 1/18/2017 | 0.75 | 0.66 | 0.5 | 0.75 |
| 1/25/2017 | 0.75 | 0.66 | 0.5 | 0.75 |
| 2/1/2017 | 0.75 | 0.65 | 0.5 | 0.75 |
| 2/8/2017 | 0.75 | 0.66 | 0.5 | 0.75 |
| 2/15/2017 | 0.75 | 0.66 | 0.5 | 0.75 |
| 2/22/2017 | 0.75 | 0.66 | 0.5 | 0.75 |
| 3/1/2017 | 0.75 | 0.65 | 0.5 | 0.75 |
| 3/8/2017 | 0.75 | 0.66 | 0.5 | 0.75 |
| 3/15/2017 | 0.75 | 0.66 | 0.5 | 0.75 |
| 3/22/2017 | 1 | 0.91 | 0.75 | 1 |
| 3/29/2017 | 1 | 0.91 | 0.75 | 1 |
| 4/5/2017 | 1 | 0.87 | 0.75 | 1 |
| 4/12/2017 | 1 | 0.91 | 0.75 | 1 |
| 4/19/2017 | 1 | 0.91 | 0.75 | 1 |
| 4/26/2017 | 1 | 0.91 | 0.75 | 1 |
| 5/3/2017 | 1 | 0.88 | 0.75 | 1 |
| 5/10/2017 | 1 | 0.91 | 0.75 | 1 |
| 5/17/2017 | 1 | 0.91 | 0.75 | 1 |
| 5/24/2017 | 1 | 0.91 | 0.75 | 1 |
| 5/31/2017 | 1 | 0.9 | 0.75 | 1 |
| 6/7/2017 | 1 | 0.91 | 0.75 | 1 |
| 6/14/2017 | 1 | 0.91 | 0.75 | 1 |
| 6/21/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 6/28/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 7/5/2017 | 1.25 | 1.12 | 1 | 1.25 |
| 7/12/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 7/19/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 7/26/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 8/2/2017 | 1.25 | 1.15 | 1 | 1.25 |
| 8/9/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 8/16/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 8/23/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 8/30/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 9/6/2017 | 1.25 | 1.15 | 1 | 1.25 |
| 9/13/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 9/20/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 9/27/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 10/4/2017 | 1.25 | 1.12 | 1 | 1.25 |
| 10/11/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 10/18/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 10/25/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 11/1/2017 | 1.25 | 1.15 | 1 | 1.25 |
| 11/8/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 11/15/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 11/22/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 11/29/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 12/6/2017 | 1.25 | 1.15 | 1 | 1.25 |
| 12/13/2017 | 1.25 | 1.16 | 1 | 1.25 |
| 12/20/2017 | 1.5 | 1.41 | 1.25 | 1.5 |
| 12/27/2017 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/3/2018 | 1.5 | 1.37 | 1.25 | 1.5 |
| 1/10/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/17/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/24/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/31/2018 | 1.5 | 1.41 | 1.25 | 1.5 |
| 2/7/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/14/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/21/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/28/2018 | 1.5 | 1.41 | 1.25 | 1.5 |
| 3/7/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/14/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/21/2018 | 1.5 | 1.43 | 1.25 | 1.5 |
| 3/28/2018 | 1.75 | 1.68 | 1.5 | 1.75 |
| 4/4/2018 | 1.75 | 1.68 | 1.5 | 1.75 |
| 4/11/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/18/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/25/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/2/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/9/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/16/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/23/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/30/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/6/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/13/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/20/2018 | 1.95 | 1.9 | 1.75 | 2 |
| 6/27/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 7/4/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/11/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/18/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/25/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/1/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/8/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/15/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/22/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/29/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/5/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 9/12/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/19/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/26/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 10/3/2018 | 2.20 | 2.18 | 2 | 2.25 |
| 10/10/2018 | 2.20 | 2.18 | 2 | 2.25 |
| 10/17/2018 | 2.20 | 2.18 | 2 | 2.25 |
| 10/24/2018 | 2.20 | 2.19 | 2 | 2.25 |
| 10/31/2018 | 2.20 | 2.2 | 2 | 2.25 |
| 11/7/2018 | 2.20 | 2.2 | 2 | 2.25 |
| 11/14/2018 | 2.20 | 2.19 | 2 | 2.25 |
| 11/21/2018 | 2.20 | 2.2 | 2 | 2.25 |
| 11/28/2018 | 2.20 | 2.2 | 2 | 2.25 |
| 12/5/2018 | 2.20 | 2.2 | 2 | 2.25 |
| 12/12/2018 | 2.20 | 2.19 | 2 | 2.25 |
| 12/19/2018 | 2.20 | 2.19 | 2 | 2.25 |
| 12/26/2018 | 2.40 | 2.4 | 2.25 | 2.5 |
| 1/2/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 1/9/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 1/16/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 1/23/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 1/30/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 2/6/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 2/13/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 2/20/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 2/27/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 3/6/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 3/13/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 3/20/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 3/27/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 4/3/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 4/10/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 4/17/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 4/24/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 5/1/2019 | 2.40 | 2.4 | 2.25 | 2.5 |
| 5/8/2019 | 2.35 | 2.4 | 2.25 | 2.5 |
| 5/15/2019 | 2.35 | 2.4 | 2.25 | 2.5 |
| 5/22/2019 | 2.35 | 2.4 | 2.25 | 2.5 |
| 5/29/2019 | 2.35 | 2.4 | 2.25 | 2.5 |
| 6/5/2019 | 2.35 | 2.4 | 2.25 | 2.5 |
| 6/12/2019 | 2.35 | 2.4 | 2.25 | 2.5 |
| 6/19/2019 | 2.35 | 2.4 | 2.25 | 2.5 |
| 6/26/2019 | 2.35 | 2.4 | 2.25 | 2.5 |
| 7/3/2019 | 2.35 | 2.4 | 2.25 | 2.5 |
Source: Federal Reserve Board Staff calculations; Federal Reserve Board Release on Selected Interest Rates (H.15); “Interest on Required Reserve Balances and Excess Balances” release.
Figure 2: Reserves and Total Loans
| Date | Aggregate Loans Ratio | Stacked Share |
|---|---|---|
| 3/31/2008 | 59.79% | 59.91% |
| 6/30/2008 | 60.07% | 60.19% |
| 9/30/2008 | 58.32% | 58.65% |
| 12/31/2008 | 56.71% | 59.81% |
| 3/31/2009 | 57.59% | 62.20% |
| 6/30/2009 | 58.04% | 63.38% |
| 9/30/2009 | 56.79% | 61.96% |
| 12/31/2009 | 56.61% | 63.46% |
| 3/31/2010 | 58.15% | 64.53% |
| 6/30/2010 | 57.78% | 64.22% |
| 9/30/2010 | 57.18% | 62.52% |
| 12/31/2010 | 57.19% | 62.40% |
| 3/31/2011 | 56.02% | 61.57% |
| 6/30/2011 | 55.67% | 61.23% |
| 9/30/2011 | 54.69% | 60.93% |
| 12/31/2011 | 54.86% | 60.31% |
| 3/31/2012 | 54.81% | 60.47% |
| 6/30/2012 | 54.97% | 60.29% |
| 9/30/2012 | 54.72% | 60.23% |
| 12/31/2012 | 54.35% | 59.90% |
| 3/31/2013 | 54.20% | 59.83% |
| 6/30/2013 | 54.59% | 61.39% |
| 9/30/2013 | 54.19% | 62.36% |
| 12/31/2013 | 54.02% | 63.73% |
| 3/31/2014 | 53.67% | 63.35% |
| 6/30/2014 | 53.93% | 63.54% |
| 9/30/2014 | 53.40% | 63.52% |
| 12/31/2014 | 53.52% | 63.65% |
| 3/31/2015 | 53.24% | 63.80% |
| 6/30/2015 | 54.42% | 64.72% |
| 9/30/2015 | 55.03% | 65.16% |
| 12/31/2015 | 55.71% | 65.28% |
| 3/31/2016 | 55.42% | 64.47% |
| 6/30/2016 | 55.81% | 65.04% |
| 9/30/2016 | 55.75% | 64.94% |
| 12/31/2016 | 56.22% | 65.03% |
| 3/31/2017 | 55.52% | 64.35% |
| 6/30/2017 | 56.36% | 65.20% |
| 9/30/2017 | 56.32% | 65.10% |
| 12/31/2017 | 56.86% | 65.34% |
| 3/31/2018 | 57.18% | 65.29% |
| 6/30/2018 | 57.63% | 65.29% |
| 9/30/2018 | 57.66% | 65.06% |
| 12/31/2018 | 58.08% | 64.73% |
Note: The reserves and loans to assets ratios are aggregate reserves or loans of all U.S. commercial banks with assets over $1 billion divided by aggregate assets.
Source: Federal Reserve Board Staff calculations; Consolidated Reports of Condition and Income, FFIEC 031/041; Reserve balances are based on Federal Reserve accounting records.
Figure 3: Interest on Excess Reserves and Effective Federal Funds Rates, 2018:Q1-2019:Q1
| Date | IOER | Effective Federal Funds Rate (FFR) | Lower FFR | Upper FFR |
|---|---|---|---|---|
| 1/1/2018 | 1.5 | 1.33 | 1.25 | 1.5 |
| 1/2/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/3/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/4/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/5/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/6/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/7/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/8/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/9/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/10/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/11/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/12/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/13/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/14/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/15/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/16/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/17/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/18/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/19/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/20/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/21/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/22/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/23/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/24/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/25/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/26/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/27/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/28/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/29/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/30/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 1/31/2018 | 1.5 | 1.34 | 1.25 | 1.5 |
| 2/1/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/2/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/3/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/4/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/5/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/6/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/7/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/8/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/9/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/10/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/11/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/12/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/13/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/14/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/15/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/16/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/17/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/18/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/19/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/20/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/21/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/22/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/23/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/24/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/25/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/26/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/27/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 2/28/2018 | 1.5 | 1.35 | 1.25 | 1.5 |
| 3/1/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/2/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/3/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/4/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/5/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/6/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/7/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/8/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/9/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/10/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/11/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/12/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/13/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/14/2018 | 1.5 | 1.42 | 1.25 | 1.5 |
| 3/15/2018 | 1.5 | 1.43 | 1.25 | 1.5 |
| 3/16/2018 | 1.5 | 1.43 | 1.25 | 1.5 |
| 3/17/2018 | 1.5 | 1.43 | 1.25 | 1.5 |
| 3/18/2018 | 1.5 | 1.43 | 1.25 | 1.5 |
| 3/19/2018 | 1.5 | 1.43 | 1.25 | 1.5 |
| 3/20/2018 | 1.5 | 1.44 | 1.25 | 1.5 |
| 3/21/2018 | 1.5 | 1.44 | 1.25 | 1.5 |
| 3/22/2018 | 1.75 | 1.68 | 1.5 | 1.75 |
| 3/23/2018 | 1.75 | 1.68 | 1.5 | 1.75 |
| 3/24/2018 | 1.75 | 1.68 | 1.5 | 1.75 |
| 3/25/2018 | 1.75 | 1.68 | 1.5 | 1.75 |
| 3/26/2018 | 1.75 | 1.68 | 1.5 | 1.75 |
| 3/27/2018 | 1.75 | 1.68 | 1.5 | 1.75 |
| 3/28/2018 | 1.75 | 1.68 | 1.5 | 1.75 |
| 3/29/2018 | 1.75 | 1.68 | 1.5 | 1.75 |
| 3/30/2018 | 1.75 | 1.67 | 1.5 | 1.75 |
| 3/31/2018 | 1.75 | 1.67 | 1.5 | 1.75 |
| 4/1/2018 | 1.75 | 1.67 | 1.5 | 1.75 |
| 4/2/2018 | 1.75 | 1.68 | 1.5 | 1.75 |
| 4/3/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/4/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/5/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/6/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/7/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/8/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/9/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/10/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/11/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/12/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/13/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/14/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/15/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/16/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/17/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/18/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/19/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 4/20/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 4/21/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 4/22/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 4/23/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 4/24/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 4/25/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 4/26/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 4/27/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 4/28/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 4/29/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 4/30/2018 | 1.75 | 1.69 | 1.5 | 1.75 |
| 5/1/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/2/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/3/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/4/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/5/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/6/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/7/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/8/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/9/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/10/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/11/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/12/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/13/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/14/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/15/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/16/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/17/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/18/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/19/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/20/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/21/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/22/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/23/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/24/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/25/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/26/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/27/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/28/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/29/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/30/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 5/31/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/1/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/2/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/3/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/4/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/5/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/6/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/7/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/8/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/9/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/10/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/11/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/12/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/13/2018 | 1.75 | 1.7 | 1.5 | 1.75 |
| 6/14/2018 | 1.95 | 1.9 | 1.75 | 2 |
| 6/15/2018 | 1.95 | 1.9 | 1.75 | 2 |
| 6/16/2018 | 1.95 | 1.9 | 1.75 | 2 |
| 6/17/2018 | 1.95 | 1.9 | 1.75 | 2 |
| 6/18/2018 | 1.95 | 1.9 | 1.75 | 2 |
| 6/19/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 6/20/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 6/21/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 6/22/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 6/23/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 6/24/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 6/25/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 6/26/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 6/27/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 6/28/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 6/29/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 6/30/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/1/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/2/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/3/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/4/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/5/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/6/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/7/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/8/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/9/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/10/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/11/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/12/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/13/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/14/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/15/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/16/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/17/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/18/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/19/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/20/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/21/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/22/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/23/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/24/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/25/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/26/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/27/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/28/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/29/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/30/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 7/31/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/1/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/2/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/3/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/4/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/5/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/6/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/7/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/8/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/9/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/10/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/11/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/12/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/13/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/14/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/15/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 8/16/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/17/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/18/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/19/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/20/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/21/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/22/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/23/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/24/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/25/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/26/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/27/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/28/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/29/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/30/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 8/31/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 9/1/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 9/2/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 9/3/2018 | 1.95 | 1.91 | 1.75 | 2 |
| 9/4/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/5/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/6/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/7/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/8/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/9/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/10/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/11/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/12/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/13/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/14/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/15/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/16/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/17/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/18/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/19/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/20/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/21/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/22/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/23/2018 | 1.95 | 1.92 | 1.75 | 2 |
| 9/24/2018 | 1.95 | 1.93 | 1.75 | 2 |
| 9/25/2018 | 1.95 | 1.93 | 1.75 | 2 |
| 9/26/2018 | 1.95 | 1.93 | 1.75 | 2 |
| 9/27/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 9/28/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 9/29/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 9/30/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/1/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/2/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/3/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/4/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/5/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/6/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/7/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/8/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/9/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/10/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/11/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/12/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/13/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/14/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/15/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/16/2018 | 2.2 | 2.18 | 2 | 2.25 |
| 10/17/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 10/18/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 10/19/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 10/20/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 10/21/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 10/22/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 10/23/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 10/24/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 10/25/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 10/26/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 10/27/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 10/28/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 10/29/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 10/30/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 10/31/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/1/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/2/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 11/3/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 11/4/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 11/5/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/6/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/7/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/8/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/9/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 11/10/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 11/11/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 11/12/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 11/13/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/14/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/15/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/16/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/17/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/18/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/19/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/20/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/21/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/22/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/23/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/24/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/25/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/26/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/27/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/28/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/29/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 11/30/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 12/1/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 12/2/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 12/3/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 12/4/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 12/5/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 12/6/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 12/7/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 12/8/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 12/9/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 12/10/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 12/11/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 12/12/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 12/13/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 12/14/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 12/15/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 12/16/2018 | 2.2 | 2.19 | 2 | 2.25 |
| 12/17/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 12/18/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 12/19/2018 | 2.2 | 2.2 | 2 | 2.25 |
| 12/20/2018 | 2.4 | 2.4 | 2.25 | 2.5 |
| 12/21/2018 | 2.4 | 2.4 | 2.25 | 2.5 |
| 12/22/2018 | 2.4 | 2.4 | 2.25 | 2.5 |
| 12/23/2018 | 2.4 | 2.4 | 2.25 | 2.5 |
| 12/24/2018 | 2.4 | 2.4 | 2.25 | 2.5 |
| 12/25/2018 | 2.4 | 2.4 | 2.25 | 2.5 |
| 12/26/2018 | 2.4 | 2.4 | 2.25 | 2.5 |
| 12/27/2018 | 2.4 | 2.4 | 2.25 | 2.5 |
| 12/28/2018 | 2.4 | 2.4 | 2.25 | 2.5 |
| 12/29/2018 | 2.4 | 2.4 | 2.25 | 2.5 |
| 12/30/2018 | 2.4 | 2.4 | 2.25 | 2.5 |
| 12/31/2018 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/1/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/2/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/3/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/4/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/5/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/6/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/7/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/8/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/9/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/10/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/11/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/12/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/13/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/14/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/15/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/16/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/17/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/18/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/19/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/20/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/21/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/22/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/23/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/24/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/25/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/26/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/27/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/28/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/29/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/30/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 1/31/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/1/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/2/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/3/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/4/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/5/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/6/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/7/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/8/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/9/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/10/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/11/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/12/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/13/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/14/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/15/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/16/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/17/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/18/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/19/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/20/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/21/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/22/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/23/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/24/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/25/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/26/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/27/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 2/28/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/1/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/2/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/3/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/4/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/5/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/6/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/7/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/8/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/9/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/10/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/11/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/12/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/13/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/14/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/15/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/16/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/17/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/18/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/19/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/20/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/21/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/22/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/23/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/24/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/25/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/26/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/27/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/28/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/29/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/30/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
| 3/31/2019 | 2.4 | 2.4 | 2.25 | 2.5 |
Source: Federal Reserve Board Staff calculations; Federal Reserve Board Release on Selected Interest Rates (H.15); “Interest on Required Reserve Balances and Excess Balances” release.
Last Update:
October 18, 2019