Federal Reserve Bank of New York

NY Fed Markets Data — SOFR, EFFR and the repo rates, published by the desk that computes them

When the question is about money-market plumbing — where overnight rates actually printed, volumes, percentiles — or you need SOFR the day it is published rather than after FRED's mirror.

ratesUnited States

Asset classesrates

Frequencydaily

History2016 → today

Limit · costNo key · no published limit

KeyNo key

Formats · pull withjson · csv · xml — python, excel, sheets

LicencePublic; cite the Federal Reserve Bank of New York.

RedistributeYes, with attribution

Best for“What is the overnight funding rate today?” · “Is there stress in repo?”

When to use it

Reach for it when…

When the question is about money-market plumbing — where overnight rates actually printed, volumes, percentiles — or you need SOFR the day it is published rather than after FRED's mirror.

Not for: Term rates and the yield curve (Treasury, FRED), policy decisions (the FOMC statement), anything before 2016 (SOFR starts 2018, with an indicative history).

How to read it

Units, revisions, traps

Units. Percent, annualised, on US business days; volumes in billions of dollars. Percentiles are of the underlying transactions.

Revisions. Rates are occasionally republished the same day if a data error is found; the API flags revised prints.

SOFR is secured and spikes at quarter-ends and tax dates — a spike is plumbing, not policy.
EFFR is the rate the Fed targets a range for; the target range itself is not in this API (use FRED DFEDTARU).
The 'last N' endpoints count business days.

Classic mistake: Reading a month-end SOFR spike as a rate hike.

How to use it in your own work

Three recipes

Recipe 1 · SOFR, last 30 business days
Recipe 2 · EFFR against the target range
Recipe 3 · Repo volumes: how much money moves overnight

Each recipe: Python · Excel · Sheets, with how to read the result. Python recipes run under pandas; recipe 1 is re-run by the weekly check where the source allows it.

How to use it in your own work

Copy the snippet, change the series id, read the result the way the footer says. Replace YOUR_…_KEY with your own key where one is needed.

Recipe 1SOFR, last 30 business days

import requests, pandas as pd
u = "https://markets.newyorkfed.org/api/rates/secured/sofr/last/30.json"
df = pd.DataFrame(requests.get(u, timeout=30).json()["refRates"])
s = df.set_index(pd.to_datetime(df.effectiveDate))["percentRate"].sort_index()
print(s.tail(10))

=IMPORTDATA("https://markets.newyorkfed.org/api/rates/secured/sofr/last/30.csv")

How to read the resultCompare SOFR to the top of the Fed's target range: SOFR printing above it for days is the funding-stress signal of 2019.

Recipe 2EFFR against the target range

# effective fed funds (NY Fed) next to the target ceiling (FRED)
import requests, pandas as pd
e = pd.DataFrame(requests.get("https://markets.newyorkfed.org/api/rates/unsecured/effr/last/60.json", timeout=30).json()["refRates"])
effr = e.set_index(pd.to_datetime(e.effectiveDate))["percentRate"].sort_index()
top = pd.read_csv("https://fred.stlouisfed.org/graph/fredgraph.csv?id=DFEDTARU", index_col="observation_date", parse_dates=True, na_values=".")["DFEDTARU"]
print(pd.concat([effr, top], axis=1).dropna().tail())

=IMPORTDATA for both CSVs and a VLOOKUP by date.

How to read the resultEFFR normally sits a few basis points below the ceiling. Drifting toward the ceiling means reserves are getting scarce.

Recipe 3Repo volumes: how much money moves overnight

import requests, pandas as pd
u = "https://markets.newyorkfed.org/api/rates/secured/sofr/last/250.json"
df = pd.DataFrame(requests.get(u, timeout=30).json()["refRates"])
df["date"] = pd.to_datetime(df.effectiveDate)
print(df.set_index("date")[["percentRate", "volumeInBillions"]].resample("ME").mean().tail(6).round(2))

=IMPORTDATA on the CSV URL and a pivot table.

How to read the resultVolume in the trillions is normal now; a volume drop with a rate spike is the combination to notice.

Series → question map

The ids we use from NY Fed Markets Data, each with the question it answers. The catalog's compare view reads the concept tags behind these rows.

Series	Answers	Region	Concept
SOFR	What is the overnight secured rate?	United States	sofr
EFFR	Where did fed funds actually trade?	United States	policy_rate
OBFR	Overnight bank funding rate	United States	sofr

Compare with

Same question, different source: FRED, US Treasury data, HKMA API. The compare view lines up coverage, frequency, history and access side by side and lists what the combination makes possible.

Open compare: NY Fed Markets Data · FRED · US Treasury data →

Questions readers ask

SOFR or EFFR?

SOFR is secured (repo against Treasuries) and is now the benchmark for loans and swaps; EFFR is the unsecured interbank rate the Fed's target range is written for.

Why does SOFR jump at month-end?

Balance-sheet reporting dates make dealers pull back from repo; the rate spikes for a day or two and returns. It is not a policy signal.

Is there a CSV?

Yes — replace .json with .csv in any endpoint.

From the paper

🌎 3.75–4% — the Fed's first rise since 2023, and 16 of 18 dots sit above itFinancial Literature Americas · 17 Sept 2026

Educational only — we explain, we never advise · snippet licence: public domain · corrections to [email protected], fixed within a day and logged in the changelog.