The Fed Gazette is independent and is not affiliated with the Federal Reserve System, the Board of Governors, or any Federal Reserve Bank.

Est. 2026 Vol. I, No. 1

The Fed Gazette

A civic journal of money and credit

Sample stories are not news · Ledger figures are copied from the cited feed

RatesCopied from the cited feed

EFFR 3.88%Target 3.75%–4%OBFR 3.88%SOFR 3.87%TGCR 3.84%BGCR 3.84%SOFR 30-day 3.76116%SOFR 90-day 3.68732%SOFR 180-day 3.67765%SOFR index 1.26112897

Markets data

The Ledger

Rates, debt, cash, auctions, and the yield curve, copied from the Federal Reserve and the Treasury. Every figure names the feed it came from and the date on that feed. A feed that does not answer is left off.

Reference rates

New York Fed
SeriesNameRateVolume, billionsPercentile 1Percentile 99TargetAs ofRecent
EFFREffective federal funds rate3.88%1203.85%3.89%3.75%–4%2026-10-01
OBFROvernight bank funding rate3.88%2563.8%3.95%2026-10-01
SOFRSecured overnight financing rate3.87%3,0673.83%3.97%2026-10-01
TGCRTri-party general collateral rate3.84%1,1783.79%3.91%2026-10-01
BGCRBroad general collateral rate3.84%1,2213.8%3.93%2026-10-01

As of 2026-10-01 · Volume is the volumeInBillions field. Percentiles are percentPercentile1 and percentPercentile99. · Federal Reserve Bank of New York · Markets Data API · Retrieved 2026-10-05T04:01:54.373Z

FieldValueAs of
30-day average3.76116%2026-10-02
90-day average3.68732%2026-10-02
180-day average3.67765%2026-10-02
Index1.261128972026-10-02

As of 2026-10-02 · The index is the index field, not a percent. · Federal Reserve Bank of New York · Markets Data API · Retrieved 2026-10-05T04:01:54.373Z

Repo and reverse repo

New York Fed

Repo

DateTypeTermAmount acceptedAmount submittedCounterpartiesDetail
2026-10-02RepoOvernight00Treasury, accepted 0, offering 4%
Agency, accepted 0, offering 4%
Mortgage-Backed, accepted 0, offering 4%
2026-10-02RepoOvernight00Treasury, accepted 0, offering 4%
Agency, accepted 0, offering 4%
Mortgage-Backed, accepted 0, offering 4%
2026-10-01RepoOvernight00Treasury, accepted 0, offering 4%
Agency, accepted 0, offering 4%
Mortgage-Backed, accepted 0, offering 4%
2026-10-01RepoOvernight00Treasury, accepted 0, offering 4%
Agency, accepted 0, offering 4%
Mortgage-Backed, accepted 0, offering 4%
2026-09-30RepoOvernight00Treasury, accepted 0, offering 4%
Agency, accepted 0, offering 4%
Mortgage-Backed, accepted 0, offering 4%

Reverse repo

DateTypeTermAmount acceptedAmount submittedCounterpartiesDetail
2026-10-02Reverse RepoOvernight1,501,000,0001,501,000,0003Treasury, accepted 1,501,000,000, offering 3.75%, award 3.75%
2026-10-01Reverse RepoOvernight350,000,000350,000,0001Treasury, accepted 350,000,000, offering 3.75%, award 3.75%
2026-09-30Reverse RepoOvernight11,539,000,00011,539,000,00018Treasury, accepted 11,539,000,000, offering 3.75%, award 3.75%
2026-09-29Reverse RepoOvernight11,446,000,00011,446,000,00010Treasury, accepted 11,446,000,000, offering 3.75%, award 3.75%
2026-09-28Reverse RepoOvernight851,000,000851,000,0003Treasury, accepted 851,000,000, offering 3.75%, award 3.75%

As of 2026-10-02 · Offering and award rates use the percent fields. Amounts are printed as returned. · Federal Reserve Bank of New York · Markets Data API, repo and reverse repo operations · Retrieved 2026-10-05T04:01:54.753Z

SOMA holdings

New York Fed
HoldingAmount as published
Bills560,210,926,700
Notes and bonds3,597,915,855,200
TIPS279,965,204,500
Floating-rate notes20,045,553,800
TIPS inflation compensation106,023,076,291.86
Mortgage-backed securities1,890,705,863,534.60
Commercial mortgage-backed securities7,383,594,145.60
Agencies2,347,000,000
Total6,358,573,997,880.20

As of 2026-09-30 · Amounts are the summary fields, with no change of scale. · Federal Reserve Bank of New York · SOMA summary · Retrieved 2026-10-05T04:01:54.791Z

Debt to the penny

Treasury
FieldAmountAs of
Total public debt outstanding$40,260,641,972,390.032026-10-01
Debt held by the public$32,433,790,394,253.862026-10-01
Intragovernmental holdings$7,826,851,578,136.172026-10-01

As of 2026-10-01 · Feed format $10.20 · U.S. Department of the Treasury · Fiscal Data, Debt to the Penny · Retrieved 2026-10-05T04:01:55.210Z

Operating cash

Treasury
FieldAmountAs of
Opening Balance Today893,6992026-10-01

As of 2026-10-01 · Treasury General Account (TGA) Closing Balance · Opening Balance Today · Feed format $1,000,000 · U.S. Department of the Treasury · Fiscal Data, Daily Treasury Statement operating cash balance · Retrieved 2026-10-05T04:01:55.550Z

Average interest rates

Treasury
TypeSecurityAverage interest rate
MarketableTreasury Bills3.788%
MarketableTreasury Notes3.345%
MarketableTreasury Bonds3.453%
MarketableTreasury Inflation-Protected Securities (TIPS)1.134%
MarketableTreasury Floating Rate Notes (FRN)3.845%
MarketableFederal Financing Bank2.383%
MarketableTotal Marketable3.475%
Non-marketableDomestic Series7.577%
Non-marketableSpecial Purpose Vehicle2.878%
Non-marketableState and Local Government Series3.349%
Non-marketableUnited States Savings Securities3.145%
Non-marketableUnited States Savings Inflation Securities4.496%
Non-marketableGovernment Account Series3.558%
Non-marketableGovernment Account Series Inflation Securities1.392%
Non-marketableTotal Non-marketable3.559%
Interest-bearing DebtTotal Interest-bearing Debt3.490%

As of 2026-08-31 · Feed format 10.2% · U.S. Department of the Treasury · Fiscal Data, average interest rates on Treasury securities · Retrieved 2026-10-05T04:01:55.713Z

Daily par yield curve

Treasury
MaturityPar yield
1 Mo4.04%
1.5 Month4.09%
2 Mo4.11%
3 Mo4.19%
4 Mo4.26%
6 Mo4.27%
1 Yr4.46%
2 Yr4.83%
3 Yr4.96%
5 Yr5.06%
7 Yr5.17%
10 Yr5.28%
20 Yr5.67%
30 Yr5.63%

As of 10/02/2026 · The line is the 10 Yr column. · U.S. Department of the Treasury · Daily par yield curve rates · Retrieved 2026-10-05T04:01:55.990Z

Auctions

Treasury
DateTypeTermCUSIPOffering amountHigh yieldAverage median yieldBid to coverInterest rate
2026-10-01Bill4-Week912797VP9100,000,000,0002.830000
2026-10-01Bill8-Week912797VZ795,000,000,0002.700000
2026-09-30Bill17-Week912797WS275,000,000,0002.890000
2026-09-29Bill52-Week912797WJ254,000,000,0003.070000
2026-09-29Bill6-Week912797UY185,000,000,0002.820000
2026-09-28Bill26-Week912797WM582,000,000,0002.640000
2026-09-28Bill13-Week912797VJ395,000,000,0002.990000
2026-09-24Note7-Year91282CRM544,000,000,0005.08505.0190002.4200005.000000

As of 2026-10-01 · Empty result fields are left off. Amounts are printed as returned. · U.S. Department of the Treasury · Fiscal Data, Treasury securities auctions · Retrieved 2026-10-05T04:01:56.251Z

H.15 selected interest rates

Federal Reserve Board
SeriesCodeValueAs ofRecent
Federal fundsRIFSPFF_N.B3.88%2026-10-01
Prime rateRIFSPBLP_N.B7.00%2026-10-01
Discount rateRIFSRP_F02_N.B4.00%2026-10-01
3-month nonfinancial commercial paperRIFSPPNAAD90_N.B4.08%2026-09-21
2-year Treasury constant maturityRIFLGFCY02_N.B4.78%2026-10-01
10-year Treasury constant maturityRIFLGFCY10_N.B5.24%2026-10-01
30-year Treasury constant maturityRIFLGFCY30_N.B5.61%2026-10-01

H.15 selected interest rates, business-daily series. · Board of Governors of the Federal Reserve System · H.15 Selected Interest Rates · Retrieved 2026-10-05T04:01:56.638Z

FRED

FRED
SeriesCodeLatestUnitsAs ofRecent
Federal Funds Target Range - Upper LimitDFEDTARU4Percent2026-10-04
Federal Funds Target Range - Lower LimitDFEDTARL3.75Percent2026-10-04
Unemployment RateUNRATE4.2Percent2026-09-01
Consumer Price Index for All Urban Consumers: All Items in U.S. City AverageCPIAUCSL334.131Index 1982-1984=1002026-08-01
Bank Credit, All Commercial BanksTOTBKCR19,862.5105Billions of U.S. Dollars2026-09-23
Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday LevelWALCL6,743,031Millions of U.S. Dollars2026-09-30

Observation values other than a reported number are omitted. · Federal Reserve Bank of St. Louis · FRED · Retrieved 2026-10-05T04:41:52.073Z