Federal Funds Rate Calculator
Calculate interest on federal funds lending and understand the Fed's monetary policy rate framework.
Federal Funds Details
$
%
%
%
days
Federal Funds Rate is the rate banks charge each other for overnight loans of reserve balances. The Fed sets a target range and uses monetary policy tools to keep the effective rate within that range.
Interest for 1 Day(s)
$14,805.56
at 5.33% effective rate
Daily Interest
$14,805.56
Annual Interest
$5.33M
Target Range Analysis
5.25%5.38%5.50%
Effective rate is 0.04bps below midpoint
Related Rates
Target Range5.25% - 5.50%
Implied Prime Rate8.33%
Discount Window Rate6.00%
Interest on Reserves (IORB)5.50%
Fed Rate Framework
- - FOMC sets target range (25bp wide)
- - IORB: Top of range (ceiling)
- - ON RRP: Bottom of range (floor)
- - Discount Rate: 50bp above target
- - Prime Rate: ~300bp above Fed Funds