The Fed Gazette — an independent publication
Est. 2026 Vol. I, No. 2
A civic journal of money and credit
SOFR measures the cost of borrowing cash overnight when the loan is backed by Treasury securities. It is built from transactions in the Treasury repurchase agreement market and is published each business day by the New York Fed.
Latest print
Checked against these official pages on Monday, October 5, 2026. Quoted text is copied word for word.
The Secured Overnight Financing Rate (SOFR) is a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities.