Interest Rate on Excess Reserves (DISCONTINUED) (IOER)
Units: Percent, Not Seasonally Adjusted Frequency: Daily, 7-Day Notes: Starting July 29, 2021, the interest rate on excess reserves and the interest rate on required reserves were replaced with a single rate, the interest rate on reserve balances (). See the sources announcement for more details. The interest rate on excess reserves (IOER rate) is determined by the Board of Governors and gives . . .