US Interest Rate on Reserve Balances (IORB)

Q

What is US Interest Rate on Reserve Balances (IORB)?

✍: FYIcenter.com

A

The US Interest Rate on Reserve Balances (IORB) is the interest paid by Fed Reserve Banks to commercial banks on their account balances (also called reserve balances). It is reviewed and published every 6 weeks by the Federal Reserve Board.

Note that IORB rate is for for eligible commercial banks only. Not all commercial banks can enjoy this rate.

If you go to this the Federal Reserve Website, you will see the latest US IORB rate for commercial banks with primary credits: 4.4% as of January 27, 2025.

The IORB rate is usually 10 base points lower than the Fed Discount Rate. See the historical rates below:

 IORB   Discount
 Rate       Rate   Publish Date
-----   --------   ------------
4.40%      4.50%   19-Dec-2024
4.65%      4.75%   08-Nov-2024
4.90%      5.00%   19-Sep-2024

⇒ Historical Values of IORB Rates

⇐ Historical Values of Effective Fed Funds Rates

⇑ Introduction to US Interest Rates

⇑⇑ Interest Rates

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Historical Values of IORB Rates
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US Interest Rate on Reserve Balances (IORB)
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