US Reserve Balance Rate Announcement for September 2025: Implementation of New Interest Rate Management Tool

On September 18, 2025, the Federal Reserve released the Interest On Reserve Balances (IORB) rate for the United States, effective through December 11. The current rate, as well as the forecast and previous values, were not provided.Data Definition: The Interest On Reserve Balances (IORB) is a new interest rate management tool introduced by the Federal Reserve on July 29, 2021, replacing the previous Interest On Required Reserves (IORR) and Interest On Excess Reserves (IOER). Data Impact: IORB now serves as the upper bound of the Federal Reserve’s policy rate corridor for financial institutions, while the lower bound is set by the overnight reverse repurchase agreement (ON RRP) rate.This data carries a medium level of importance (level 2). The statistical method involves setting a rate corridor. The data is published monthly, with the next release date not yet provided.

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